M/I Homes (NYSE:MHO) Earns Neutral Rating from Seaport Research Partners

M/I Homes (NYSE:MHO)‘s stock had its “neutral” rating restated by research analysts at Seaport Research Partners in a research note issued to investors on Tuesday,Benzinga reports.

Several other equities research analysts have also recently weighed in on MHO. Oppenheimer set a $165.00 price target on M/I Homes in a research report on Friday, January 30th. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday. Weiss Ratings reiterated 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 research report on Friday, January 30th. Finally, Citizens Jmp started coverage on M/I Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, M/I Homes presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.67.

M/I Homes Price Performance

NYSE MHO opened at $122.46 on Tuesday. The firm’s 50-day simple moving average is $134.05 and its two-hundred day simple moving average is $133.83. M/I Homes has a 52 week low of $100.22 and a 52 week high of $158.92. The company has a market cap of $3.16 billion, a PE ratio of 8.33 and a beta of 1.77. The company has a quick ratio of 1.86, a current ratio of 8.12 and a debt-to-equity ratio of 0.31.

M/I Homes (NYSE:MHO) last announced 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 firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business posted $4.71 earnings per share. The company’s revenue was down 4.9% on a year-over-year basis. Research analysts predict that M/I Homes will post 18.44 earnings per share for the current year.

Insider Transactions at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 8,616 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total value of $1,264,828.80. Following the completion of the sale, the chief financial officer owned 45,815 shares of the company’s stock, valued at $6,725,642. This represents a 15.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert H. Schottenstein sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $144.47, for a total value of $2,889,400.00. Following the completion of the sale, the chief executive officer directly owned 313,874 shares of the company’s stock, valued at approximately $45,345,376.78. This represents a 5.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 49,213 shares of company stock valued at $7,115,268. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of M/I Homes

Several hedge funds and other institutional investors have recently bought and sold shares of MHO. Junto Capital Management LP purchased a new stake in M/I Homes in the third quarter worth approximately $35,871,000. Millennium Management LLC boosted its stake in M/I Homes by 107.5% in 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 in the last quarter. Invesco Ltd. boosted its stake in 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 buying an additional 161,881 shares in the last quarter. Squarepoint Ops LLC boosted its stake in M/I Homes by 1,806.4% in the fourth quarter. Squarepoint Ops LLC now owns 114,134 shares of the construction company’s stock worth $14,603,000 after buying an additional 108,147 shares in the last quarter. Finally, Gradient Investments LLC boosted its stake in M/I Homes by 689.4% in the fourth quarter. Gradient Investments LLC now owns 114,773 shares of the construction company’s stock worth $14,685,000 after buying an additional 100,233 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.