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

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

Several analysts have commented on the stock. Citizens Jmp began coverage on shares of M/I Homes in a report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 target price on the stock. Oppenheimer set a $165.00 price objective on shares of M/I Homes in a report on Friday, January 30th. Weiss Ratings reaffirmed 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 report on Friday, January 30th. Finally, Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th.

Insider Activity at M/I Homes

In other news, CEO Robert H. Schottenstein sold 14,974 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $2,198,183.20. Following the sale, the chief executive officer owned 348,513 shares of the company’s stock, valued at $51,161,708.40. The trade was a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Susan E. Krohne sold 491 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $72,078.80. Following the completion of the transaction, the insider directly owned 8,771 shares of the company’s stock, valued at approximately $1,287,582.80. This trade represents a 5.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 49,213 shares of company stock valued at $7,115,268. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On M/I Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC acquired a new position in shares of M/I Homes during the 3rd quarter worth about $28,000. Jones Financial Companies Lllp boosted its position in M/I Homes by 73.1% during the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in M/I Homes during the fourth quarter valued at approximately $28,000. Private Trust Co. NA bought a new position in M/I Homes in the third quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of M/I Homes by 90.6% during the 2nd 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 last quarter. 95.14% of the stock is owned by institutional investors.

M/I Homes Stock Performance

MHO stock opened at $144.22 on Friday. M/I Homes has a 1-year low of $100.22 and a 1-year high of $158.92. The company has a current ratio of 8.12, a quick ratio of 1.86 and a debt-to-equity ratio of 0.31. The firm has a market cap of $3.72 billion, a PE ratio of 9.80 and a beta of 1.77. The business’s 50-day moving average price is $137.34 and its two-hundred day moving average price is $137.68.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Wednesday, January 28th. The construction company reported $3.91 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm posted $4.71 earnings per share. M/I Homes’s revenue was down 4.9% compared to the same quarter last year. As a group, research analysts forecast that M/I Homes will post 18.44 earnings per share for the current year.

M/I Homes declared that its board has initiated a share buyback program on Wednesday, November 12th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board 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.