Brokerages Set M/I Homes, Inc. (NYSE:MHO) PT at $164.25

Shares of M/I Homes, Inc. (NYSE:MHO) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $164.25.

Several research firms have recently issued reports on MHO. New Street Research set a $172.00 price objective on shares of M/I Homes in a research report on Tuesday, August 4th. Zelman & Associates cut M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of M/I Homes in a research note on Wednesday, August 12th. Zacks Research raised M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Finally, Freedom Capital raised M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th.

M/I Homes Stock Down 1.4%

Shares of NYSE:MHO opened at $152.01 on Friday. M/I Homes has a fifty-two week low of $116.78 and a fifty-two week high of $163.66. The firm’s 50 day moving average price is $151.35 and its 200 day moving average price is $139.07. The company has a quick ratio of 1.69, a current ratio of 7.65 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 12.80 and a beta of 1.60.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, topping the consensus estimate of $3.13 by $0.01. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted $4.42 EPS. The firm’s revenue was down 6.0% on a year-over-year basis. As a group, equities research analysts predict that M/I Homes will post 12.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $149.56, for a total value of $2,991,200.00. Following the transaction, the chief financial officer directly owned 30,918 shares in the company, valued at $4,624,096.08. This represents a 39.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of M/I Homes in the 2nd quarter valued at about $769,776,000. California State Teachers Retirement System increased its position in M/I Homes by 13,917.0% during the second quarter. California State Teachers Retirement System now owns 4,499,869 shares of the construction company’s stock worth $723,534,000 after buying an additional 4,467,766 shares during the period. Donald Smith & CO. Inc. acquired a new position in M/I Homes during the second quarter worth approximately $223,736,000. Millennium Management LLC lifted 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 valued at $55,592,000 after buying an additional 225,120 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in M/I Homes in the second quarter valued at approximately $31,561,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.