M/I Homes, Inc. (NYSE:MHO) Stock Has Average Price Target of $164.40 According to Brokerages

M/I Homes, Inc. (NYSE:MHO) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $164.40.

Several brokerages have commented on MHO. Citigroup reaffirmed a “market outperform” rating on shares of M/I Homes in a research report on Thursday, October 8th. New Street Research set a $172.00 price objective on M/I Homes in a report on Tuesday, August 4th. Freedom Broker decreased their target price on M/I Homes from $172.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Zacks Research downgraded shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. Finally, Jefferies Financial Group set a $165.00 target price on M/I Homes in a research note on Thursday, October 8th.

M/I Homes Stock Performance

MHO stock opened at $128.60 on Thursday. The company has a quick ratio of 1.44, a current ratio of 7.54 and a debt-to-equity ratio of 0.29. The firm has a market cap of $3.22 billion, a PE ratio of 12.22 and a beta of 1.67. The business has a 50 day moving average of $133.31 and a 200-day moving average of $137.59. M/I Homes has a 12-month low of $113.40 and a 12-month high of $163.66.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, October 21st. The construction company reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.55). The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.11 billion. M/I Homes had a net margin of 6.59% and a return on equity of 10.12%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.92 earnings per share. As a group, sell-side analysts expect that M/I Homes will post 10.76 earnings per share for the current year.

Insider Activity

In other news, CFO Phillip Creek sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $126.28, for a total value of $2,525,600.00. Following the completion of the transaction, the chief financial officer directly owned 30,918 shares in the company, valued at approximately $3,904,325.04. This trade represents a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.60% of the company’s stock.

Institutional Trading of M/I Homes

Several institutional investors and hedge funds have recently bought and sold shares of MHO. BlackRock Inc. bought a new position in M/I Homes in the 2nd quarter valued at $769,776,000. Donald Smith & CO. Inc. bought a new stake in shares of M/I Homes during the 2nd quarter valued at about $223,736,000. Royce & Associates LP grew its holdings in shares of M/I Homes by 8.5% during the third quarter. Royce & Associates LP now owns 343,125 shares of the construction company’s stock worth $46,366,000 after purchasing an additional 26,740 shares in the last quarter. Junto Capital Management LP grew its holdings in shares of M/I Homes by 3.1% during the second quarter. Junto Capital Management LP now owns 338,298 shares of the construction company’s stock worth $54,395,000 after purchasing an additional 10,047 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of M/I Homes in the second quarter worth approximately $31,561,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

M/I Homes Company Profile

M/I Homes, Inc. is a homebuilder that plans and constructs single-family homes in a range of styles and price points. Its communities serve buyers including first-time homeowners, move-up buyers and luxury-home customers. Founded in 1976 and headquartered in Columbus, Ohio, the company operates in markets across the Midwest, Mid-Atlantic, Southeast and Texas. Its homebuilding operations are complemented by services that help buyers with mortgage financing and title-related needs. Robert H. Schottenstein serves as the company’s chairman and chief executive officer.