Citizens Jmp Initiates Coverage on M/I Homes (NYSE:MHO)

Citizens Jmp began coverage on shares of M/I Homes (NYSE:MHO) in a research report issued on Wednesday, MarketBeat Ratings reports. The firm set a “market outperform” rating and a $165.00 price target on the construction company’s stock. Citizens Jmp’s price objective suggests a potential upside of 25.13% from the company’s previous close.

A number of other equities research analysts have also recently commented on MHO. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a report on Wednesday, October 8th. Raymond James Financial lifted their target price on 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. Citigroup began coverage on M/I Homes in a research note on Wednesday. They issued an “outperform” rating for the company. Finally, Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, M/I Homes presently has a consensus rating of “Buy” and an average price target of $160.00.

M/I Homes Price Performance

Shares of NYSE:MHO opened at $131.86 on Wednesday. The company has a market capitalization of $3.45 billion, a P/E ratio of 7.74 and a beta of 1.75. M/I Homes has a 1-year low of $100.22 and a 1-year high of $158.92. The firm’s 50 day simple moving average is $130.43 and its two-hundred day simple moving average is $132.59. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.15 and a quick ratio of 1.59.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, October 22nd. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.37 by ($0.45). M/I Homes had a return on equity of 15.72% and a net margin of 10.56%.The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.16 billion. M/I Homes’s revenue was down 1.4% compared to the same quarter last year. Research analysts expect that M/I Homes will post 18.44 EPS for the current fiscal year.

M/I Homes declared that its board has authorized a share repurchase plan on Wednesday, November 12th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On M/I Homes

Several institutional investors have recently bought and sold shares of the business. Junto Capital Management LP bought a new stake in shares of M/I Homes in the 3rd quarter worth about $35,871,000. Invesco Ltd. grew its position in M/I Homes by 116.4% in the third quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock worth $43,464,000 after acquiring an additional 161,881 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in M/I Homes by 9.8% during the second quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock worth $157,909,000 after acquiring an additional 125,423 shares during the last quarter. Long Pond Capital LP purchased a new stake in M/I Homes during the second quarter valued at approximately $13,694,000. Finally, Gradient Investments LLC raised its position in M/I Homes by 689.4% during the fourth quarter. Gradient Investments LLC now owns 114,773 shares of the construction company’s stock valued at $14,685,000 after purchasing an additional 100,233 shares during the period. Institutional investors own 95.14% of the company’s stock.

M/I Homes Company Profile

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.