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

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

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

Insiders Place Their Bets

In other M/I Homes news, CEO Robert H. Schottenstein sold 14,974 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $2,198,183.20. Following the transaction, the chief executive officer directly owned 348,513 shares in the company, valued at approximately $51,161,708.40. This represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Phillip G. Creek sold 8,616 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the completion of the transaction, the chief financial officer directly owned 45,815 shares in the company, valued at $6,725,642. This trade represents a 15.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 49,213 shares of company stock valued at $7,115,268. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On M/I Homes

Large investors have recently bought and sold shares of the business. Salomon & Ludwin LLC acquired a new stake in M/I Homes during the 3rd quarter worth $28,000. Hilton Head Capital Partners LLC bought a new position in shares of M/I Homes in the 4th quarter worth $28,000. Jones Financial Companies Lllp boosted its position in shares of M/I Homes by 73.1% in 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 during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after purchasing an additional 135 shares during the period. Finally, Private Trust Co. NA acquired a new stake in shares of M/I Homes during the third quarter worth $38,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

M/I Homes Price Performance

NYSE:MHO traded down $2.53 during mid-day trading on Friday, reaching $135.84. 259,178 shares of the company were exchanged, compared to its average volume of 243,986. The company has a quick ratio of 1.86, a current ratio of 8.12 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.50 billion, a PE ratio of 9.23 and a beta of 1.77. M/I Homes has a 12 month low of $100.22 and a 12 month high of $158.92. The company has a fifty day moving average of $137.66 and a 200 day moving average of $137.64.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted $4.71 earnings per share. The company’s revenue was down 4.9% on a year-over-year basis. On average, research analysts anticipate that M/I Homes will post 18.44 EPS for the current fiscal year.

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

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.