M/I Homes, Inc. (NYSE:MHO) Stock Has Average Price Target of $164.40 According to Brokerages

M/I Homes, Inc. (NYSE:MHO) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $164.40.

Several brokerages recently commented on MHO. Zacks Research cut M/I Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 9th. Citigroup reaffirmed a “market outperform” rating on shares of M/I Homes in a research note on Thursday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research report on Wednesday, August 12th. Jefferies Financial Group set a $165.00 price target on M/I Homes in a research report on Thursday, October 8th. Finally, New Street Research set a $172.00 price objective on M/I Homes in a research note on Tuesday, August 4th.

Insiders Place Their Bets

In other M/I Homes news, CFO Phillip Creek sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $126.28, for a total value of $2,525,600.00. Following the completion of the sale, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at approximately $3,904,325.04. This represents a 39.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On M/I Homes

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC acquired a new position in shares of M/I Homes in the 2nd quarter valued at $1,969,000. NewEdge Wealth LLC acquired a new stake in M/I Homes during the 2nd quarter worth about $1,976,000. Junto Capital Management LP raised its holdings in M/I Homes by 3.1% during the 2nd quarter. Junto Capital Management LP now owns 338,298 shares of the construction company’s stock worth $54,395,000 after buying an additional 10,047 shares during the period. Legal & General Group Plc acquired a new stake in M/I Homes during the 2nd quarter worth about $9,683,000. Finally, Gradient Investments LLC raised its holdings in M/I Homes by 6.4% during the 3rd quarter. Gradient Investments LLC now owns 129,757 shares of the construction company’s stock worth $17,534,000 after buying an additional 7,846 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

M/I Homes Trading Down 2.0%

Shares of MHO stock opened at $131.61 on Thursday. The business has a fifty day simple moving average of $134.35 and a 200-day simple moving average of $137.65. The stock has a market cap of $3.29 billion, a P/E ratio of 12.51 and a beta of 1.67. M/I Homes has a fifty-two week low of $113.40 and a fifty-two week high of $163.66. The company has a quick ratio of 1.44, a current ratio of 7.54 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, October 21st. The construction company reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.55). M/I Homes had a net margin of 6.59% and a return on equity of 10.12%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business earned $3.92 earnings per share. The company’s revenue was down 1.9% on a year-over-year basis. On average, analysts forecast that M/I Homes will post 10.76 earnings per share for the current fiscal year.

About M/I Homes

M/I Homes, Inc is a residential construction company that builds and sells single-family homes for a range of buyers, including first-time, move-up and luxury-home purchasers. Its operations include land acquisition and development, home design, construction, marketing and sales, with communities offered in suburban and metropolitan markets.

The company also provides services that support the homebuying process, including mortgage financing through M/I Financial and title-related services through its affiliated operations.