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

Key Points

• Analysts have rated M/I Homes, Inc. (NYSE:MHO) with a consensus of "Strong Buy", with an average price target of $162.50.
• Shares of M/I Homes are currently trading at $134.08, reflecting a 3.5% increase, while its stock has fluctuated between a 52-week low of $100.22 and a high of $176.18.
• Institutional investors have shown significant interest, with Fifth Third Bancorp increasing its stake by 38.3% and Nomura Asset Management by 58.6% recently, collectively owning 95.14% of the company's shares.

Shares of M/I Homes, Inc. (NYSE:MHO - Get Free Report) have earned a consensus rating of "Strong Buy" from the four analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $162.50.

A number of equities research analysts have recently commented on MHO shares. Raymond James Financial cut their price target on M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th. Wall Street Zen cut M/I Homes from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Finally, Zelman & Associates raised M/I Homes to an "outperform" rating in a report on Tuesday.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in shares of M/I Homes by 38.3% during the 1st quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after acquiring an additional 105 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of M/I Homes by 58.6% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company's stock worth $52,000 after acquiring an additional 170 shares in the last quarter. Covestor Ltd boosted its position in shares of M/I Homes by 134.8% during the 1st quarter. Covestor Ltd now owns 655 shares of the construction company's stock worth $75,000 after acquiring an additional 376 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of M/I Homes by 57.6% during the 1st quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock worth $105,000 after acquiring an additional 336 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of M/I Homes during the 1st quarter worth about $114,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

M/I Homes Stock Up 3.5%

Shares of NYSE:MHO traded up $4.52 during trading hours on Tuesday, hitting $134.08. The company's stock had a trading volume of 87,094 shares, compared to its average volume of 281,657. M/I Homes has a 52 week low of $100.22 and a 52 week high of $176.18. The firm's fifty day moving average price is $115.95 and its 200 day moving average price is $114.55. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 7.36 and a beta of 1.60. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 1.78.

M/I Homes (NYSE:MHO - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share for the quarter, missing the consensus estimate of $4.43 by ($0.01). M/I Homes had a return on equity of 17.23% and a net margin of 11.40%. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.12 billion. The business's revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts expect that M/I Homes will post 18.44 EPS for the current year.

About M/I Homes

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.

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