JMP Securities Reiterates “$30.00” Price Target for M/I Homes (MHO)

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JMP Securities set a $30.00 price target on M/I Homes (NYSE:MHO) in a research report released on Monday. The brokerage currently has a buy rating on the construction company’s stock.

A number of other research analysts have also weighed in on the company. ValuEngine lowered M/I Homes from a sell rating to a strong sell rating in a research report on Thursday, September 27th. Zacks Investment Research raised M/I Homes from a sell rating to a hold rating in a research report on Wednesday, September 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $37.33.

MHO stock opened at $22.68 on Monday. M/I Homes has a twelve month low of $21.99 and a twelve month high of $37.41. The company has a debt-to-equity ratio of 1.01, a current ratio of 6.15 and a quick ratio of 0.64. The company has a market cap of $655.41 million, a P/E ratio of 6.93 and a beta of 1.07.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, July 25th. The construction company reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.08. M/I Homes had a return on equity of 12.69% and a net margin of 3.91%. The company had revenue of $558.10 million during the quarter, compared to analyst estimates of $527.00 million. During the same quarter last year, the company earned $0.73 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts forecast that M/I Homes will post 3.93 earnings per share for the current fiscal year.

M/I Homes announced that its board has approved a share buyback program on Tuesday, August 14th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

In other M/I Homes news, CEO Robert H. Schottenstein sold 13,143 shares of M/I Homes stock in a transaction on Tuesday, August 7th. The stock was 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 at this hyperlink. Also, insider Phillip G. Creek sold 18,880 shares of M/I Homes stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $26.50, for a total value of $500,320.00. Following the completion of the sale, the insider now directly owns 6,513 shares of the company’s stock, valued at approximately $172,594.50. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. Foundry Partners LLC increased its holdings in shares of M/I Homes by 2.5% in the 3rd quarter. Foundry Partners LLC now owns 257,782 shares of the construction company’s stock worth $6,169,000 after purchasing an additional 6,218 shares in the last quarter. United Services Automobile Association grew its holdings in shares of M/I Homes by 67.2% in the second quarter. United Services Automobile Association now owns 137,672 shares of the construction company’s stock worth $3,646,000 after acquiring an additional 55,321 shares during the period. Northern Trust Corp grew its holdings in shares of M/I Homes by 4.6% in the second quarter. Northern Trust Corp now owns 351,744 shares of the construction company’s stock worth $9,314,000 after acquiring an additional 15,435 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of M/I Homes by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 538,575 shares of the construction company’s stock worth $14,262,000 after acquiring an additional 3,352 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings 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 acquiring an additional 270,230 shares during the period. 93.41% of the stock is owned by institutional investors and hedge funds.

About M/I Homes

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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