M/I Homes, Inc. (NYSE:MHO) Receives $161.67 Average Target Price from Analysts

M/I Homes, Inc. (NYSE:MHO) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has 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 $161.6667.

A number of research firms have weighed in on MHO. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Oppenheimer set a $165.00 target price on shares of M/I Homes in a research note on Friday, January 30th. Zacks Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Citizens Jmp started coverage on shares of M/I Homes in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price target for the company. Finally, Citigroup reissued a “market outperform” rating on shares of M/I Homes in a research report on Friday, January 30th.

M/I Homes Stock Down 0.4%

Shares of MHO stock opened at $141.55 on Friday. M/I Homes has a 12-month low of $100.22 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 fifty day moving average of $136.72 and a 200-day moving average of $137.63. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 9.62 and a beta of 1.77.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.03. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $4.71 EPS. As a group, equities research analysts predict that M/I Homes will post 18.44 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In related news, CFO Phillip G. Creek sold 8,616 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $1,264,828.80. Following the transaction, the chief financial officer directly owned 45,815 shares of the company’s stock, valued at approximately $6,725,642. The trade was a 15.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan E. Krohne sold 5,000 shares of the stock in a transaction 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 owned 6,167 shares in the company, valued at approximately $828,104.76. This trade represents a 44.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,213 shares of company stock valued at $7,115,268 over the last 90 days. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On M/I Homes

Large investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of M/I Homes by 46.3% during the 1st quarter. Royal Bank of Canada now owns 29,774 shares of the construction company’s stock worth $3,400,000 after buying an additional 9,422 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in M/I Homes by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company’s stock worth $1,812,000 after acquiring an additional 703 shares during the last quarter. United Services Automobile Association bought a new stake in shares of M/I Homes during the first quarter worth approximately $205,000. Strs Ohio acquired a new position in shares of M/I Homes in the first quarter valued at approximately $114,000. Finally, State of New Jersey Common Pension Fund D grew its position in shares of M/I Homes by 6.4% in the second quarter. State of New Jersey Common Pension Fund D now owns 17,718 shares of the construction company’s stock valued at $1,987,000 after purchasing an additional 1,060 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

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.