Brokerages Set M/I Homes, Inc. (NYSE:MHO) Price Target at $161.67

Shares of M/I Homes, Inc. (NYSE:MHO) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $161.6667.

A number of research analysts have recently commented on the stock. Zelman & Associates cut shares of M/I Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a report on Friday, May 15th. Seaport Research Partners reiterated a “neutral” rating on shares of M/I Homes in a research report on Tuesday, April 7th. Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Finally, Freedom Capital upgraded shares of M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th.

Hedge Funds Weigh In On M/I Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in MHO. Hilton Head Capital Partners LLC bought a new stake in shares of M/I Homes in the fourth quarter worth $28,000. EverSource Wealth Advisors LLC increased its holdings in M/I Homes by 90.6% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after purchasing an additional 135 shares during the period. Aster Capital Management DIFC Ltd bought a new position in M/I Homes during the 4th quarter worth $49,000. Caitong International Asset Management Co. Ltd raised its position in M/I Homes by 1,090.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock worth $64,000 after purchasing an additional 458 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in M/I Homes by 133.7% during the 2nd quarter. Versant Capital Management Inc now owns 409 shares of the construction company’s stock worth $66,000 after buying an additional 234 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

M/I Homes Price Performance

Shares of MHO stock opened at $151.45 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 7.19 and a debt-to-equity ratio of 0.29. M/I Homes has a twelve month low of $116.78 and a twelve month high of $163.66. The company has a market cap of $3.88 billion, a P/E ratio of 12.75 and a beta of 1.60. The business has a fifty day simple moving average of $146.11 and a 200 day simple moving average of $137.08.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.01. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted $4.42 earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, sell-side analysts forecast that M/I Homes will post 12.6 EPS for the current fiscal year.

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.