M/I Homes (NYSE:MHO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $41.00 price objective on the construction company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.90% from the stock’s current price.
According to Zacks, “M/I Homes is one of nation’s leading builders of single family homes. M/I Homes have established an exemplary reputation based on a strong commitment to superior customer service, innovative design, quality construction and premium locations. M/I Homes serve a broad segment of the housing market including first-time, move-up, luxury and empty nester buyers. M/I Homes design, market, construct and sell single-family homes and attached townhomes to first-time, moveup, empty-nester and luxury buyers. The company have homebuilding operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Tampa, Orlando and Palm Beach County, Florida; Charlotte and Raleigh, North Carolina; Virginia and Maryland. “
Several other research firms have also commented on MHO. ValuEngine raised shares of M/I Homes from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Wedbush lifted their price target on shares of M/I Homes from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, December 29th. JMP Securities set a $38.00 price target on shares of M/I Homes and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, TheStreet lowered shares of M/I Homes from a “b-” rating to a “c+” rating in a report on Thursday, December 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $40.00.
M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, October 25th. The construction company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). M/I Homes had a net margin of 4.00% and a return on equity of 12.31%. The business had revenue of $476.40 million during the quarter, compared to analyst estimates of $475.42 million. During the same period last year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. analysts anticipate that M/I Homes will post 2.76 earnings per share for the current fiscal year.
In related news, insider Phillip G. Creek sold 25,400 shares of M/I Homes stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $32.08, for a total value of $814,832.00. Following the sale, the insider now directly owns 60,971 shares in the company, valued at approximately $1,955,949.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Robert H. Schottenstein sold 15,800 shares of M/I Homes stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $31.90, for a total transaction of $504,020.00. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in M/I Homes in the 3rd quarter valued at about $883,000. Delphi Management Inc. MA lifted its position in M/I Homes by 39.1% in the 3rd quarter. Delphi Management Inc. MA now owns 76,598 shares of the construction company’s stock valued at $2,047,000 after purchasing an additional 21,520 shares during the last quarter. Magnetar Financial LLC bought a new stake in M/I Homes in the 3rd quarter valued at about $205,000. KBC Group NV lifted its position in M/I Homes by 83.7% in the 3rd quarter. KBC Group NV now owns 25,990 shares of the construction company’s stock valued at $695,000 after purchasing an additional 11,843 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in M/I Homes by 5.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 155,845 shares of the construction company’s stock valued at $4,166,000 after purchasing an additional 7,794 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.
M/I Homes Company Profile
M/I Homes, Inc is a builder of single-family homes. The Company consists of two operations: homebuilding and financial services. It operates through Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations segments. The Company and its subsidiaries are engaged primarily in the construction and sale of single-family residential homes in 15 markets: Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.
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