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

M/I Homes, Inc. (NYSE:MHO) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $164.40.

Several brokerages have issued reports on MHO. Freedom Capital raised shares of M/I Homes to a “strong-buy” rating in a research note on Wednesday, June 24th. Citigroup restated a “market outperform” rating on shares of M/I Homes in a report on Thursday, October 8th. New Street Research set a $172.00 target price on M/I Homes in a research report on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. Finally, Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 9th.

M/I Homes Stock Down 1.4%

MHO stock opened at $124.20 on Friday. M/I Homes has a 52-week low of $116.78 and a 52-week high of $163.66. The company’s 50 day simple moving average is $141.73 and its 200-day simple moving average is $139.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.69. The firm has a market capitalization of $3.14 billion, a P/E ratio of 10.45 and a beta of 1.60.

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

Insider Transactions at M/I Homes

In other M/I Homes news, CFO Phillip Creek sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $151.28, for a total transaction of $1,512,800.00. Following the completion of the sale, the chief financial officer directly owned 30,918 shares in the company, valued at approximately $4,677,275.04. This trade represents a 24.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On M/I Homes

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of M/I Homes in the second quarter worth approximately $769,776,000. Donald Smith & CO. Inc. acquired a new stake in shares of M/I Homes during the second quarter worth approximately $223,736,000. Junto Capital Management LP boosted 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 during the period. Bank of America Corp DE purchased a new position in M/I Homes during the second quarter valued at approximately $31,561,000. Finally, Bank of New York Mellon Corp purchased a new position in M/I Homes during the second quarter valued at approximately $30,032,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

M/I Homes Company Profile

M/I Homes, Inc is a homebuilder that constructs and sells single-family homes for a range of buyers, including first-time, move-up and luxury customers. The company offers homes in multiple designs and price ranges, with options that may include different floor plans, elevations, finishes and features. Its operations also include land acquisition, development of residential communities and the construction of homes on customer-owned lots.

Founded in 1976 by Irving and Melvin Schottenstein, M/I Homes is headquartered in Columbus, Ohio.