M/I Homes (NYSE:MHO) Coverage Initiated by Analysts at Citizens Jmp

Stock analysts at Citizens Jmp initiated coverage on shares of M/I Homes (NYSE:MHO) in a research note issued on Wednesday,Benzinga 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 indicates a potential upside of 28.39% from the company’s previous close.

Several other research firms have also recently issued reports on MHO. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a report on Wednesday, October 8th. Citigroup assumed coverage on M/I Homes in a research note on Wednesday. They set an “outperform” rating for the company. Zacks Research raised M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Raymond James Financial upped their target price on shares of M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a report on Friday, October 24th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $160.00.

M/I Homes Stock Up 0.4%

MHO stock opened at $128.52 on Wednesday. The company has a fifty day moving average price of $130.27 and a 200 day moving average price of $132.63. M/I Homes has a 12 month low of $100.22 and a 12 month high of $158.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.15 and a quick ratio of 1.59. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 7.55 and a beta of 1.75.

M/I Homes (NYSE:MHO) last released its quarterly earnings results 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 company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.16 billion. M/I Homes’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts expect that M/I Homes will post 18.44 earnings per share for the current year.

M/I Homes announced that its board has initiated a share buyback plan on Wednesday, November 12th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WealthCollab LLC lifted its position in shares of M/I Homes by 16.5% in the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock valued at $69,000 after acquiring an additional 87 shares in the last quarter. Jones Financial Companies Lllp grew its position in M/I Homes by 73.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock worth $30,000 after purchasing an additional 87 shares in the last quarter. Private Advisor Group LLC raised its stake in M/I Homes by 3.0% during the 3rd quarter. Private Advisor Group LLC now owns 3,027 shares of the construction company’s stock valued at $437,000 after purchasing an additional 89 shares during the period. SkyOak Wealth LLC raised its stake in M/I Homes by 3.8% during the 3rd quarter. SkyOak Wealth LLC now owns 2,445 shares of the construction company’s stock valued at $353,000 after purchasing an additional 90 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of M/I Homes by 4.9% in the third quarter. Nisa Investment Advisors LLC now owns 1,983 shares of the construction company’s stock valued at $286,000 after purchasing an additional 93 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

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.