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

Key Points

• M/I Homes has a “Moderate Buy” consensus rating from seven analysts, with an average 12-month price target of $164.40 versus the reported share price of $127.97.
• The company slightly exceeded quarterly earnings expectations, reporting $3.14 in EPS and $1.06 billion in revenue, though revenue declined 6% year over year and earnings fell from $4.42 per share.
• Institutional investors own 95.14% of M/I Homes, while CFO Phillip Creek sold 20,000 shares worth approximately $3.0 million, reducing his direct ownership by 39.28%.

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

Several analysts have issued reports on MHO shares. Zacks Research lowered M/I Homes from a "hold" rating to a "strong sell" rating in a report on Wednesday, September 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of M/I Homes in a research note on Wednesday, August 12th. Jefferies Financial Group set a $165.00 price objective on M/I Homes in a research report on Thursday. New Street Research set a $172.00 price objective on M/I Homes in a research note on Tuesday, August 4th. Finally, Citigroup reissued a "market outperform" rating on shares of M/I Homes in a report on Thursday.

M/I Homes Stock Down 1.7%

MHO opened at $127.97 on Friday. The company has a current ratio of 7.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.29. M/I Homes has a 1-year low of $116.78 and a 1-year high of $163.66. The company has a market capitalization of $3.23 billion, a PE ratio of 10.77 and a beta of 1.60. The firm's 50 day simple moving average is $144.12 and its two-hundred day simple moving average is $139.51.

M/I Homes (NYSE:MHO - Get Free Report) last issued 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. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter last year, the company posted $4.42 EPS. The company's revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts forecast that M/I Homes will post 12.12 EPS for the current year.

Insider Buying and Selling at M/I Homes

In other M/I Homes news, CFO Phillip Creek sold 20,000 shares of the company's 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.60% of the stock is currently owned by insiders.

Institutional Trading of M/I Homes

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

About M/I Homes

M/I Homes, Inc is a homebuilder that constructs and sells single-family homes for a range of buyers, including first-time, move-up and luxury customers. The company offers homes in multiple designs and price ranges, with options that may include different floor plans, elevations, finishes and features. Its operations also include land acquisition, development of residential communities and the construction of homes on customer-owned lots.

Founded in 1976 by Irving and Melvin Schottenstein, M/I Homes is headquartered in Columbus, Ohio.

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