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

Key Points

• Analysts give M/I Homes a “Moderate Buy” consensus: Of seven analysts, three rate the stock a hold, two a buy and two a strong buy. The average 12-month price target is approximately $161.67, versus a recent price of $148.75.
• Institutional ownership is substantial at 95.14%. Several major investors increased their positions, including Millennium Management, which more than doubled its stake, and Invesco, which raised its stake by 116.4%.
• M/I Homes shares trade at a price-to-earnings ratio of 11.20 and have moved between $116.78 and $163.66 over the past 12 months. Recent analyst actions were mixed, including an upgrade from Freedom Capital and downgrades or neutral ratings from other firms.

M/I Homes, Inc. (NYSE:MHO - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven analysts that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $161.6667.

Several analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of M/I Homes in a report on Friday, May 15th. Seaport Research Partners reissued a "neutral" rating on shares of M/I Homes in a report on Tuesday, April 7th. Freedom Capital upgraded shares of M/I Homes to a "strong-buy" rating in a research report on Wednesday, June 24th. Zacks Research raised shares of M/I Homes from a "strong sell" rating to a "hold" rating in a research note on Friday, June 26th. Finally, Zelman & Associates downgraded shares of M/I Homes from an "outperform" rating to a "neutral" rating in a research note on Tuesday, July 7th.

Institutional Trading of M/I Homes

Several hedge funds have recently made changes to their positions in MHO. Donald Smith & CO. Inc. increased its stake in M/I Homes by 5.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company's stock worth $187,234,000 after buying an additional 82,090 shares during the period. State Street Corp lifted its position in M/I Homes by 2.2% during the fourth quarter. State Street Corp now owns 1,337,188 shares of the construction company's stock valued at $171,093,000 after acquiring an additional 28,187 shares during the last quarter. Millennium Management LLC lifted its position in M/I Homes by 107.5% during the fourth 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 during the last quarter. Royce & Associates LP boosted its stake in 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 acquiring an additional 16,445 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in M/I Homes by 116.4% in the third quarter. Invesco Ltd. now owns 300,912 shares of the construction company's stock valued at $43,464,000 after acquiring an additional 161,881 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

M/I Homes Price Performance

Shares of M/I Homes stock opened at $148.75 on Tuesday. The firm has a market cap of $3.81 billion, a PE ratio of 11.20 and a beta of 1.60. The stock has a 50 day moving average of $144.56 and a 200 day moving average of $136.66. The company has a current ratio of 8.40, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30. M/I Homes has a 12 month low of $116.78 and a 12 month high of $163.66.

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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