M/I Homes, Inc. (NYSE:MHO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

M/I Homes, Inc. (NYSE:MHO) has received an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $161.6667.

Several analysts have issued reports on MHO shares. Raymond James Financial increased their target price on M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a research report on Friday, October 24th. Oppenheimer set a $165.00 price objective on M/I Homes in a research note on Friday. Citizens Jmp assumed coverage on M/I Homes in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 target price on the stock. Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a report on Friday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd.

M/I Homes Trading Down 0.0%

NYSE:MHO opened at $133.66 on Tuesday. The firm has a 50-day simple moving average of $133.31 and a 200-day simple moving average of $135.31. M/I Homes has a one year low of $100.22 and a one year high of $158.92. The firm has a market cap of $3.50 billion, a P/E ratio of 9.09 and a beta of 1.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.72 and a current ratio of 7.54.

M/I Homes (NYSE:MHO) last released its quarterly earnings data on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.03. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the firm earned $4.71 earnings per share. Equities analysts anticipate that M/I Homes will post 18.44 EPS for the current fiscal year.

M/I Homes declared that its board has approved a stock repurchase program on Wednesday, November 12th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other M/I Homes news, insider Susan E. Krohne sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $134.28, for a total value of $671,400.00. Following the completion of the sale, the insider directly owned 6,167 shares in the company, valued at $828,104.76. This trade represents a 44.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is owned by insiders.

Institutional Trading of M/I Homes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Donald Smith & CO. Inc. boosted its position in shares of M/I Homes by 9.8% in the 2nd quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock worth $157,909,000 after purchasing an additional 125,423 shares in the last quarter. American Century Companies Inc. boosted its holdings in 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 worth $135,282,000 after acquiring an additional 91,732 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of M/I Homes by 0.4% during the second quarter. Franklin Resources Inc. now owns 572,975 shares of the construction company’s stock worth $64,242,000 after acquiring an additional 2,021 shares during the last quarter. Invesco Ltd. increased its holdings in shares of M/I Homes by 116.4% during 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. Finally, JPMorgan Chase & Co. raised its position in shares of M/I Homes by 26.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 266,582 shares of the construction company’s stock valued at $38,505,000 after purchasing an additional 55,206 shares during the last quarter. Hedge funds and other institutional investors 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.