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

Shares of M/I Homes, Inc. (NYSE:MHO) have received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $161.6667.

Several research firms recently commented on MHO. Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a research note on Friday, January 30th. Oppenheimer set a $165.00 price target on M/I Homes in a report on Friday, January 30th. Zacks Research downgraded shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Finally, Citizens Jmp started coverage on shares of M/I Homes in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 target price for the company.

Insider Activity

In other news, CEO Robert H. Schottenstein sold 14,974 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $2,198,183.20. Following the completion of the sale, the chief executive officer directly owned 348,513 shares in the company, valued at $51,161,708.40. This represents a 4.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Susan E. Krohne sold 491 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total value of $72,078.80. Following the completion of the transaction, the insider directly owned 8,771 shares in the company, valued at $1,287,582.80. This trade represents a 5.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 49,213 shares of company stock valued at $7,115,268 in the last ninety days. Company insiders own 3.50% of the company’s stock.

Institutional Trading of M/I Homes

Institutional investors have recently modified their holdings of the company. Junto Capital Management LP acquired a new stake in M/I Homes during the 3rd quarter worth approximately $35,871,000. Millennium Management LLC grew its stake in M/I Homes by 107.5% during the fourth quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock worth $55,592,000 after buying an additional 225,120 shares during the period. Invesco Ltd. increased its position in shares of 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. raised its stake in shares of M/I Homes by 9.8% in the 2nd quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock valued at $157,909,000 after acquiring an additional 125,423 shares during the period. Finally, Long Pond Capital LP acquired a new position in shares of M/I Homes during the 2nd quarter valued at $13,694,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

M/I Homes Stock Performance

Shares of MHO opened at $142.10 on Friday. M/I Homes has a 1 year low of $100.22 and a 1 year high of $158.92. The company’s 50 day simple moving average is $136.45 and its 200 day simple moving average is $137.69. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 9.66 and a beta of 1.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.86 and a current ratio of 8.12.

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

M/I Homes declared that its Board of Directors has authorized a share buyback plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.