M/I Homes, Inc. (NYSE:MHO) Given Average Rating of “Moderate Buy” by Brokerages

Shares of M/I Homes, Inc. (NYSE:MHO) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $161.6667.

MHO has been the topic of several research analyst reports. Citigroup restated a “market outperform” rating on shares of M/I Homes in a research report on Friday, January 30th. Oppenheimer set a $165.00 price objective on shares of M/I Homes in a report on Friday, January 30th. Zacks Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Citizens Jmp started coverage on shares of M/I Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research note on Thursday, January 22nd.

Insider Buying and Selling

In other M/I Homes news, CFO Phillip G. Creek sold 8,616 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $1,264,828.80. Following the sale, the chief financial officer owned 45,815 shares of the company’s stock, valued at $6,725,642. This represents a 15.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert H. Schottenstein sold 14,974 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $2,198,183.20. Following the completion of the sale, the chief executive officer owned 348,513 shares in the company, valued at $51,161,708.40. This represents a 4.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,213 shares of company stock worth $7,115,268 in the last three months. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On M/I Homes

A number of institutional investors and hedge funds have recently bought and sold shares of MHO. Donald Smith & CO. Inc. increased its position in M/I Homes by 5.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company’s stock worth $187,234,000 after buying an additional 82,090 shares in the last quarter. State Street Corp boosted its stake in shares of M/I Homes by 2.2% during the fourth quarter. State Street Corp now owns 1,337,188 shares of the construction company’s stock valued at $171,093,000 after acquiring an additional 28,187 shares during the last quarter. American Century Companies Inc. increased its position in M/I Homes by 10.9% during the 3rd quarter. American Century Companies Inc. now owns 936,597 shares of the construction company’s stock worth $135,282,000 after purchasing an additional 91,732 shares in the last quarter. Franklin Resources Inc. raised its stake in M/I Homes by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 572,975 shares of the construction company’s stock valued at $64,242,000 after purchasing an additional 2,021 shares during the last quarter. Finally, Millennium Management LLC raised its stake in M/I Homes by 107.5% in the 4th quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock valued at $55,592,000 after purchasing an additional 225,120 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

M/I Homes Stock Performance

NYSE MHO opened at $142.10 on Friday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 9.66 and a beta of 1.77. The business’s 50 day moving average is $136.45 and its two-hundred day moving average is $137.69. M/I Homes has a 12-month low of $100.22 and a 12-month high of $158.92. The company has a current ratio of 8.12, a quick ratio of 1.86 and a debt-to-equity ratio of 0.31.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.03. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $4.71 earnings per share. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. Research analysts expect that M/I Homes will post 18.44 EPS for the current year.

M/I Homes declared that its Board of Directors has authorized a share repurchase plan on Wednesday, November 12th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

About M/I Homes

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.