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

Shares of M/I Homes, Inc. (NYSE:MHO) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $161.6667.

MHO has been the topic of several analyst reports. Citigroup restated a “market outperform” rating on shares of M/I Homes in a report on Friday, January 30th. Oppenheimer set a $165.00 target price on shares of M/I Homes in a research report on Friday, January 30th. Raymond James Financial increased their price target on M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a research note on Friday, October 24th. Citizens Jmp began coverage on M/I Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of M/I Homes in a report on Thursday, January 22nd.

M/I Homes Stock Performance

NYSE:MHO opened at $142.15 on Tuesday. The stock has a market capitalization of $3.72 billion, a P/E ratio of 9.66 and a beta of 1.77. The company has a current ratio of 7.54, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. M/I Homes has a 1 year low of $100.22 and a 1 year high of $158.92. The firm has a 50 day moving average of $133.36 and a 200-day moving average of $135.79.

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, beating analysts’ consensus estimates of $3.88 by $0.03. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company posted $4.71 earnings per share. As a group, sell-side analysts anticipate that M/I Homes will post 18.44 EPS for the current fiscal year.

M/I Homes declared that its board has authorized a stock buyback plan on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at M/I Homes

In other M/I Homes news, insider Susan E. Krohne sold 5,000 shares of M/I Homes stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $134.28, for a total value of $671,400.00. Following the transaction, the insider owned 6,167 shares of the company’s stock, valued at approximately $828,104.76. The trade was a 44.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.50% of the company’s stock.

Institutional Trading of M/I Homes

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