Brokerages Set M/I Homes, Inc. (NYSE:MHO) Target Price at $164.25

Shares of M/I Homes, Inc. (NYSE:MHO) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $164.25.

A number of analysts recently issued reports on the stock. New Street Research set a $172.00 price target on shares of M/I Homes in a report on Tuesday, August 4th. Zelman & Associates cut M/I Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Freedom Capital upgraded M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research report on Wednesday, August 12th. Finally, Zacks Research raised M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th.

M/I Homes Stock Performance

Shares of NYSE MHO opened at $152.19 on Friday. M/I Homes has a 12 month low of $116.78 and a 12 month high of $163.66. The company has a current ratio of 7.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 12.81 and a beta of 1.60. The company has a 50 day simple moving average of $150.98 and a two-hundred day simple moving average of $138.88.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.01. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned $4.42 EPS. As a group, analysts predict that M/I Homes will post 12.62 earnings per share for the current year.

Insider Activity

In other news, CFO Phillip G. Creek sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the transaction, the chief financial officer owned 30,918 shares in the company, valued at $4,624,096.08. This trade represents a 39.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On M/I Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC purchased a new position in M/I Homes during the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC grew its position in shares of M/I Homes by 90.6% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after purchasing an additional 135 shares during the period. Langley Wealth Management LLC purchased a new stake in shares of M/I Homes during the second quarter worth about $45,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of M/I Homes during the fourth quarter worth about $49,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of M/I Homes by 1,090.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock worth $64,000 after purchasing an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

About M/I Homes

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.