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

Key Points

• Analysts assign M/I Homes a “Moderate Buy” consensus, with two buy, two strong-buy and three hold ratings. The average 12-month price target is $164.25, versus a recent share price of $152.29.
• M/I Homes slightly exceeded quarterly expectations, reporting $3.14 in EPS and $1.06 billion in revenue, although revenue declined 6% year over year and EPS fell from $4.42 in the prior-year quarter.
• Institutional ownership is high at 95.14%, with BlackRock and Donald Smith & Co. among investors establishing new positions. CFO Phillip G. Creek sold 20,000 shares, reducing his holdings by 39.28%.

Shares of M/I Homes, Inc. (NYSE:MHO - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $164.25.

MHO has been the topic of a number of recent analyst reports. New Street Research set a $172.00 price target on shares of M/I Homes in a research report on Tuesday, August 4th. Zacks Research upgraded shares of M/I Homes from a "strong sell" rating to a "hold" rating in a research report on Friday, June 26th. Freedom Capital raised shares of M/I Homes to a "strong-buy" rating in a research note on Wednesday, June 24th. Weiss Ratings restated a "hold (c)" rating on shares of M/I Homes in a report on Wednesday, August 12th. Finally, Zelman & Associates cut shares of M/I Homes from an "outperform" rating to a "neutral" rating in a research report on Tuesday, July 7th.

M/I Homes Price Performance

M/I Homes stock opened at $152.29 on Friday. The stock's 50 day moving average is $150.75 and its 200 day moving average is $138.73. M/I Homes has a one year low of $116.78 and a one year high of $163.66. The firm has a market cap of $3.85 billion, a P/E ratio of 12.82 and a beta of 1.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.69.

M/I Homes (NYSE:MHO - Get Free Report) last released its earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm posted $4.42 EPS. The company's revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, research analysts expect that M/I Homes will post 12.62 EPS for the current year.

Insider Activity

In other news, CFO Phillip G. Creek sold 20,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total value of $2,991,200.00. Following the transaction, the chief financial officer directly owned 30,918 shares of the company's stock, valued at $4,624,096.08. The trade was a 39.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On M/I Homes

A number of hedge funds have recently added to or reduced their stakes in MHO. BlackRock Inc. bought a new position in shares of M/I Homes during the 2nd quarter worth approximately $769,776,000. Donald Smith & CO. Inc. bought a new stake in shares of M/I Homes in the 2nd quarter valued at $223,736,000. Millennium Management LLC increased its stake in shares of M/I Homes by 107.5% in the 4th quarter. Millennium Management LLC now owns 434,484 shares of the construction company's stock valued at $55,592,000 after acquiring an additional 225,120 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of M/I Homes during the 2nd quarter valued at $31,561,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of M/I Homes during the 2nd quarter valued at $30,032,000. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Company Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.

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