Brokerages Set M/I Homes, Inc. (NYSE:MHO) PT at $160.00

M/I Homes, Inc. (NYSE:MHO) has earned an average recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $160.00.

Several analysts recently weighed in on the company. Citigroup assumed coverage on M/I Homes in a research note on Wednesday. They issued an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a report on Wednesday, October 8th. Raymond James Financial raised their price target on shares of M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a research note on Friday, October 24th. Citizens Jmp assumed 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 objective for the company. Finally, Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th.

Institutional Investors Weigh In On M/I Homes

Several hedge funds have recently modified their holdings of the company. Salomon & Ludwin LLC bought a new position in M/I Homes in the third quarter valued at about $28,000. Jones Financial Companies Lllp grew its holdings in shares of M/I Homes by 73.1% during the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock worth $30,000 after purchasing an additional 87 shares during the last quarter. Private Trust Co. NA acquired a new position in shares of M/I Homes in the third quarter valued at approximately $38,000. EverSource Wealth Advisors LLC increased its stake in shares of M/I Homes by 90.6% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after buying an additional 135 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in M/I Homes by 58.6% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock valued at $52,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

M/I Homes Stock Performance

Shares of NYSE:MHO opened at $138.92 on Friday. M/I Homes has a 1 year low of $100.22 and a 1 year high of $158.92. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 8.16 and a beta of 1.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.15 and a quick ratio of 1.59. The company’s 50 day simple moving average is $130.70 and its 200 day simple moving average is $133.09.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, October 22nd. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.37 by ($0.45). M/I Homes had a net margin of 10.56% and a return on equity of 15.72%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. The firm’s revenue was down 1.4% on a year-over-year basis. As a group, research analysts predict that M/I Homes will post 18.44 EPS for the current fiscal year.

M/I Homes declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 12th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 7.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are 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.