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

Key Points

• Analysts give M/I Homes an average rating of "Moderate Buy" based on six firms (1 strong buy, 3 buy, 2 hold) with an average 12‑month price target of $161.67.
• The stock trades around $126.48 with a 12‑month range of $102.44–$158.92, a market cap of $3.24B and a PE of 8.6; last quarter EPS of $3.91 beat by $0.03 while revenue of $1.15B was slightly below estimates and down 4.9% year‑over‑year.
• Insiders have been net sellers—CEO and CFO sold shares on Feb 12 and insiders sold 49,213 shares (~$7.12M) over 90 days—while institutional ownership is very high at about 95.14%.

M/I Homes, Inc. (NYSE:MHO - Get Free Report) has been given an average rating of "Moderate Buy" by the six ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $161.6667.

Several brokerages have weighed in on MHO. Citigroup reaffirmed a "market outperform" rating on shares of M/I Homes in a research note on Friday, January 30th. Seaport Research Partners reaffirmed a "neutral" rating on shares of M/I Homes in a research note on Tuesday, April 7th. Zacks Research raised shares of M/I Homes from a "strong sell" rating to a "hold" rating in a research note on Friday, April 3rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of M/I Homes in a research note on Thursday, January 22nd. Finally, Oppenheimer set a $165.00 price objective on shares of M/I Homes in a research note on Friday, January 30th.

M/I Homes Stock Performance

NYSE:MHO opened at $126.48 on Friday. M/I Homes has a 12-month low of $102.44 and a 12-month high of $158.92. The company has a quick ratio of 1.86, a current ratio of 8.12 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $3.24 billion, a PE ratio of 8.60 and a beta of 1.77. The firm has a 50-day moving average price of $131.73 and a 200 day moving average price of $132.51.

M/I Homes (NYSE:MHO - Get Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.03. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business posted $4.71 earnings per share. The company's quarterly revenue was down 4.9% compared to the same quarter last year. Research analysts anticipate that M/I Homes will post 18.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert H. Schottenstein sold 14,974 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $2,198,183.20. Following the sale, the chief executive officer directly owned 348,513 shares of the company's stock, valued at $51,161,708.40. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Phillip G. Creek sold 8,616 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the completion of the sale, the chief financial officer directly owned 45,815 shares of the company's stock, valued at approximately $6,725,642. This represents a 15.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 49,213 shares of company stock valued at $7,115,268. 3.50% of the stock is currently owned by insiders.

Institutional Trading of M/I Homes

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. increased its holdings in shares of M/I Homes by 5.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company's stock valued at $187,234,000 after purchasing an additional 82,090 shares in the last quarter. State Street Corp increased its holdings in shares of M/I Homes by 2.2% in the fourth quarter. State Street Corp now owns 1,337,188 shares of the construction company's stock valued at $171,093,000 after purchasing an additional 28,187 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of M/I Homes by 10.9% in the third quarter. American Century Companies Inc. now owns 936,597 shares of the construction company's stock valued at $135,282,000 after purchasing an additional 91,732 shares in the last quarter. Millennium Management LLC increased its holdings in shares of M/I Homes by 107.5% in the fourth quarter. Millennium Management LLC now owns 434,484 shares of the construction company's stock valued at $55,592,000 after purchasing an additional 225,120 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in shares of M/I Homes by 5.3% in the fourth quarter. Royce & Associates LP now owns 326,606 shares of the construction company's stock valued at $41,789,000 after purchasing an additional 16,445 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

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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