M/I Homes, Inc. (NYSE:MHO) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• M/I Homes has a consensus “Moderate Buy” rating from seven analysts, with a $164.25 average 12-month price target versus the stock’s reported $142.39 price.
• The company narrowly beat quarterly expectations with $3.14 in adjusted EPS and $1.06 billion in revenue, though revenue declined 6% year over year and EPS fell from $4.42 in the prior-year period.
• Institutional investors own approximately 95.14% of the stock, while CFO Phillip Creek sold 10,000 shares worth about $1.51 million, reducing his holdings by 24.44%.

M/I Homes, Inc. (NYSE:MHO - Get Free Report) has received a consensus rating of "Moderate Buy" from the seven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $164.25.

A number of research analysts have recently issued reports on the company. Freedom Capital raised M/I Homes to a "strong-buy" rating in a report on Wednesday, June 24th. Zacks Research downgraded M/I Homes from a "hold" rating to a "strong sell" rating in a report on Wednesday, September 9th. Zelman & Associates downgraded M/I Homes from an "outperform" rating to a "neutral" rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of M/I Homes in a research report on Wednesday, August 12th. Finally, New Street Research set a $172.00 price objective on shares of M/I Homes in a research note on Tuesday, August 4th.

Insider Buying and Selling at M/I Homes

In other news, CFO Phillip Creek sold 10,000 shares of M/I Homes stock in a transaction dated 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 sale, the chief financial officer owned 30,918 shares of the company's stock, valued at $4,677,275.04. The trade was a 24.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On M/I Homes

A number of hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new stake in shares of M/I Homes in the 2nd quarter valued at approximately $26,000. Hilton Head Capital Partners LLC purchased a new stake in shares of M/I Homes in the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in M/I Homes by 33.0% during the first quarter. EverSource Wealth Advisors LLC now owns 391 shares of the construction company's stock worth $48,000 after acquiring an additional 97 shares during the period. Versant Capital Management Inc grew its holdings in M/I Homes by 133.7% during the second quarter. Versant Capital Management Inc now owns 409 shares of the construction company's stock worth $66,000 after acquiring an additional 234 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in M/I Homes by 1,090.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company's stock worth $64,000 after acquiring an additional 458 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

M/I Homes Stock Performance

NYSE MHO opened at $142.39 on Wednesday. The firm has a market cap of $3.60 billion, a P/E ratio of 11.99 and a beta of 1.61. M/I Homes has a 52-week low of $116.78 and a 52-week high of $163.66. The business's 50-day moving average price is $148.66 and its 200 day moving average price is $139.19. The company has a quick ratio of 1.69, a current ratio of 7.65 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.13 by $0.01. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business earned $4.42 EPS. The firm's revenue was down 6.0% compared to the same quarter last year. On average, equities research analysts expect that M/I Homes will post 12.12 earnings per share for the current year.

About M/I Homes

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.

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