Brokerages Set M/I Homes, Inc. (NYSE:MHO) Target Price at $164.25

Shares of M/I Homes, Inc. (NYSE:MHO) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $164.25.

A number of research firms recently weighed in on MHO. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. New Street Research set a $172.00 price objective on M/I Homes in a research report on Tuesday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. Freedom Capital upgraded shares of M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Finally, Zelman & Associates cut shares of M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th.

M/I Homes Price Performance

Shares of MHO opened at $138.78 on Wednesday. M/I Homes has a twelve month low of $116.78 and a twelve month high of $163.66. The stock’s 50 day moving average is $148.26 and its two-hundred day moving average is $139.17. The firm has a market capitalization of $3.51 billion, a PE ratio of 11.68 and a beta of 1.61. The company has a current ratio of 7.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.01. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.42 EPS. Research analysts anticipate that M/I Homes will post 12.12 earnings per share for the current year.

Insider Activity at M/I Homes

In related news, CFO Phillip Creek sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total transaction of $1,512,800.00. Following the sale, the chief financial officer owned 30,918 shares of the company’s stock, valued at approximately $4,677,275.04. The trade was a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Junto Capital Management LP increased its stake in M/I Homes by 3.1% in the 2nd quarter. Junto Capital Management LP now owns 338,298 shares of the construction company’s stock valued at $54,395,000 after purchasing an additional 10,047 shares in the last quarter. Engineers Gate Manager LP raised its holdings in M/I Homes by 46.1% during the second quarter. Engineers Gate Manager LP now owns 11,138 shares of the construction company’s stock worth $1,791,000 after purchasing an additional 3,517 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in M/I Homes during the second quarter worth $26,000. Nykredit A S purchased a new stake in M/I Homes during the second quarter worth $182,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in M/I Homes during the second quarter worth $289,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Company Profile

M/I Homes, Inc is a residential construction company that builds and sells new single-family homes. Its operations include land acquisition and development, home design and construction, sales and marketing, and customer service. The company offers homes in a range of designs and price points, with options and features that can be customized by buyers in many communities.

M/I Homes also provides complementary services through affiliated operations, including mortgage financing and title services.