M/I Homes (NYSE:MHO) Stock Price Target Cut by Freedom Broker

M/I Homes (NYSE:MHO) had its price objective decreased by equities researchers at Freedom Broker from $172.00 to $155.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Freedom Broker‘s target price would indicate a potential upside of 24.86% from the stock’s previous close.

MHO has been the subject of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. Zelman & Associates cut shares of M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Zacks Research downgraded shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 9th. Jefferies Financial Group set a $165.00 price target on M/I Homes in a report on Thursday, October 8th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of M/I Homes in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, M/I Homes presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.83.

M/I Homes Stock Performance

NYSE:MHO traded up $0.84 during trading hours on Friday, hitting $124.14. 448,327 shares of the company traded hands, compared to its average volume of 246,325. The company has a current ratio of 7.09, a quick ratio of 1.69 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $139.27 and a 200 day moving average of $139.75. M/I Homes has a twelve month low of $113.40 and a twelve month high of $163.66. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 10.45 and a beta of 1.60.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, October 21st. The construction company reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $3.25 by ($0.55). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.11 billion. M/I Homes had a return on equity of 10.12% and a net margin of 6.59%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the business earned $3.92 earnings per share. On average, analysts forecast that M/I Homes will post 12.12 EPS for the current year.

Insider Activity at M/I Homes

In related news, CFO Phillip Creek sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the transaction, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at approximately $4,624,096.08. The trade was a 39.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On M/I Homes

Several hedge funds have recently added to or reduced their stakes in MHO. Integrated Wealth Concepts LLC bought a new position in M/I Homes during the second quarter worth $26,000. Langley Wealth Management LLC acquired a new position in shares of M/I Homes in the second quarter valued at $45,000. EverSource Wealth Advisors LLC raised its position in shares of M/I Homes by 33.0% in the first quarter. EverSource Wealth Advisors LLC now owns 391 shares of the construction company’s stock valued at $48,000 after purchasing an additional 97 shares during the period. Versant Capital Management Inc raised its position in shares of M/I Homes by 133.7% in the second quarter. Versant Capital Management Inc now owns 409 shares of the construction company’s stock valued at $66,000 after purchasing an additional 234 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of M/I Homes in the second quarter valued at about $167,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

About M/I Homes

M/I Homes, Inc is a residential construction company that builds and sells single-family homes for a range of buyers, including first-time, move-up and luxury-home purchasers. Its operations include land acquisition and development, home design, construction, marketing and sales, with communities offered in suburban and metropolitan markets.

The company also provides services that support the homebuying process, including mortgage financing through M/I Financial and title-related services through its affiliated operations.