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

Key Points

• Analyst sentiment is moderately positive: Seven analysts give M/I Homes a consensus “Moderate Buy” rating, with an average 1-year price target of $164.40.
• Quarterly results missed expectations: M/I Homes reported EPS of $2.70 versus estimates of $3.25 and revenue of $1.08 billion versus $1.11 billion expected; revenue fell 1.9% year over year.
• Institutional ownership is high: Institutional investors and hedge funds own 95.14% of the stock. CFO Phillip Creek also sold 20,000 shares, reducing his holdings by 39.28%.

M/I Homes, Inc. (NYSE:MHO - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $164.40.

Several analysts have recently weighed in on MHO shares. Zacks Research cut M/I Homes from a "hold" rating to a "strong sell" rating in a report on Wednesday, September 9th. Freedom Broker lowered their price objective on M/I Homes from $172.00 to $155.00 and set a "buy" rating for the company in a research note on Friday, October 23rd. Jefferies Financial Group set a $165.00 price objective on shares of M/I Homes in a report 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. Finally, New Street Research set a $172.00 target price on shares of M/I Homes in a research report on Tuesday, August 4th.

M/I Homes Trading Up 7.3%

Shares of MHO stock opened at $138.27 on Thursday. The firm has a market capitalization of $3.46 billion, a P/E ratio of 13.14 and a beta of 1.67. M/I Homes has a twelve month low of $113.40 and a twelve month 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. The stock's fifty day simple moving average is $135.10 and its 200 day simple moving average is $137.68.

M/I Homes (NYSE:MHO - Get Free Report) last issued its earnings results on Wednesday, October 21st. The construction company reported $2.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.25 by ($0.55). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.11 billion. M/I Homes had a return on equity of 10.12% and a net margin of 6.59%. M/I Homes's revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.92 EPS. As a group, sell-side analysts predict that M/I Homes will post 10.76 EPS for the current fiscal year.

Insider Activity

In other news, CFO Phillip Creek sold 20,000 shares of M/I Homes stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $126.28, for a total transaction of $2,525,600.00. Following the transaction, the chief financial officer owned 30,918 shares in the company, valued at approximately $3,904,325.04. The trade was a 39.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.60% of the company's stock.

Institutional Trading of M/I Homes

A number of institutional investors and hedge funds have recently bought and sold shares of MHO. BlackRock Inc. bought a new stake in shares of M/I Homes in the 2nd quarter valued at $769,776,000. Donald Smith & CO. Inc. acquired a new stake in shares of M/I Homes during the second quarter worth $223,736,000. Bank of America Corp DE acquired a new stake in shares of M/I Homes during the second quarter worth $31,561,000. Bank of New York Mellon Corp acquired a new stake in shares of M/I Homes during the second quarter worth $30,032,000. Finally, Basswood Capital Management L.L.C. bought a new position in M/I Homes during the second quarter worth $21,926,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.

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