M/I Homes, Inc. (NYSE:MHO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of M/I Homes, Inc. (NYSE:MHO) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $161.6667.

MHO has been the subject of a number of recent analyst reports. Citizens Jmp began coverage on shares of M/I Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price target for the company. Oppenheimer set a $165.00 price objective on shares of M/I Homes in a research note on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a report on Friday. Finally, Raymond James Financial raised their price target on M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 24th.

M/I Homes Stock Performance

NYSE MHO opened at $133.66 on Tuesday. The business’s 50 day moving average price is $133.31 and its 200-day moving average price is $135.31. M/I Homes has a fifty-two week low of $100.22 and a fifty-two week high of $158.92. The company has a market cap of $3.50 billion, a P/E ratio of 9.09 and a beta of 1.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 7.54.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, January 28th. The construction company reported $3.91 EPS for the quarter, topping the consensus estimate of $3.88 by $0.03. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned $4.71 earnings per share. M/I Homes’s quarterly revenue was down 4.9% compared to the same quarter last year. Sell-side analysts predict that M/I Homes will post 18.44 earnings per share for the current year.

M/I Homes declared that its board has approved a share buyback program on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other M/I Homes news, insider Susan E. Krohne sold 5,000 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $134.28, for a total value of $671,400.00. Following the completion of the sale, the insider directly owned 6,167 shares of the company’s stock, valued at $828,104.76. The trade was a 44.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is owned by insiders.

Institutional Trading of M/I Homes

Several institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio boosted its holdings in shares of M/I Homes by 3.7% in the fourth quarter. Strs Ohio now owns 72,500 shares of the construction company’s stock valued at $9,276,000 after purchasing an additional 2,600 shares during the period. Verity Asset Management Inc. bought a new stake in M/I Homes during the 4th quarter valued at $1,074,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of M/I Homes by 13.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 17,411 shares of the construction company’s stock worth $2,228,000 after buying an additional 2,083 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of M/I Homes by 10.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,025 shares of the construction company’s stock worth $515,000 after buying an additional 383 shares during the period. Finally, Teacher Retirement System of Texas grew its position in shares of M/I Homes by 34.8% during the 4th quarter. Teacher Retirement System of Texas now owns 51,060 shares of the construction company’s stock worth $6,533,000 after buying an additional 13,189 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

About M/I Homes

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.