M/I Homes Inc (MHO) Receives $39.50 Consensus Target Price from Brokerages

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M/I Homes Inc (NYSE:MHO) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $39.50.

Several brokerages recently issued reports on MHO. Zacks Investment Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 28th. ValuEngine lowered shares of M/I Homes from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Finally, Wedbush restated an “outperform” rating and set a $41.00 target price on shares of M/I Homes in a research report on Friday, April 27th.

NYSE MHO traded down $0.18 during trading hours on Tuesday, hitting $25.64. 335,445 shares of the company’s stock traded hands, compared to its average volume of 253,662. The company has a current ratio of 6.15, a quick ratio of 0.64 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $740.27 million, a price-to-earnings ratio of 8.90 and a beta of 1.18. M/I Homes has a 52 week low of $24.08 and a 52 week high of $37.41.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, July 25th. The construction company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.08. The company had revenue of $558.10 million during the quarter, compared to analyst estimates of $527.00 million. M/I Homes had a net margin of 3.91% and a return on equity of 12.69%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 earnings per share. sell-side analysts predict that M/I Homes will post 3.85 EPS for the current year.

M/I Homes announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 14th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

In other M/I Homes news, CEO Robert H. Schottenstein sold 13,143 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $26.31, for a total value of $345,792.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Phillip G. Creek sold 18,880 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $26.50, for a total transaction of $500,320.00. Following the completion of the transaction, the insider now owns 6,513 shares of the company’s stock, valued at $172,594.50. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of MHO. SG Americas Securities LLC bought a new position in shares of M/I Homes in the second quarter worth approximately $126,000. Advisors Asset Management Inc. boosted its position in shares of M/I Homes by 6,064.4% in the second quarter. Advisors Asset Management Inc. now owns 274,686 shares of the construction company’s stock worth $126,000 after purchasing an additional 270,230 shares during the period. Mount Yale Investment Advisors LLC bought a new position in shares of M/I Homes in the first quarter worth approximately $130,000. Tower Research Capital LLC TRC boosted its position in shares of M/I Homes by 502.1% in the second quarter. Tower Research Capital LLC TRC now owns 5,642 shares of the construction company’s stock worth $150,000 after purchasing an additional 4,705 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new position in shares of M/I Homes in the second quarter worth approximately $176,000. Institutional investors and hedge funds own 95.70% of the company’s stock.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.

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