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

Shares of M/I Homes, Inc. (NYSE:MHO) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $164.25.

MHO has been the topic of several research analyst reports. Freedom Capital upgraded M/I Homes to a “strong-buy” rating in a research note on Wednesday, June 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a research report on Wednesday, August 12th. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. Zelman & Associates cut M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Finally, New Street Research set a $172.00 price objective on shares of M/I Homes in a report on Tuesday, August 4th.

M/I Homes Stock Performance

Shares of MHO stock opened at $142.72 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.69. The firm has a 50-day moving average of $148.04 and a 200-day moving average of $139.13. M/I Homes has a one year low of $116.78 and a one year high of $163.66. The company has a market cap of $3.61 billion, a P/E ratio of 12.01 and a beta of 1.61.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.01. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.42 earnings per share. Equities research analysts forecast that M/I Homes will post 12.12 EPS for the current fiscal year.

Insider Activity at M/I Homes

In related news, CFO Phillip Creek sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total value of $1,512,800.00. Following the completion of the transaction, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at approximately $4,677,275.04. This trade represents a 24.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.60% of the company’s stock.

Institutional Trading of M/I Homes

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of M/I Homes during the second quarter valued at about $769,776,000. Donald Smith & CO. Inc. increased its holdings in M/I Homes by 5.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company’s stock worth $187,234,000 after acquiring an additional 82,090 shares during the period. Junto Capital Management LP lifted its stake in M/I Homes by 3.1% in the 2nd quarter. Junto Capital Management LP now owns 338,298 shares of the construction company’s stock worth $54,395,000 after purchasing an additional 10,047 shares in the last quarter. Royce & Associates LP boosted its holdings in M/I Homes by 5.3% in the 4th quarter. Royce & Associates LP now owns 326,606 shares of the construction company’s stock valued at $41,789,000 after purchasing an additional 16,445 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of M/I Homes during the 2nd quarter valued at $31,561,000. 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 residential construction company that builds and sells new single-family homes. Its operations include land acquisition and development, home design and construction, sales and marketing, and customer service. The company offers homes in a range of designs and price points, with options and features that can be customized by buyers in many communities.

M/I Homes also provides complementary services through affiliated operations, including mortgage financing and title services.