Freedom Broker Issues Pessimistic Forecast for M/I Homes (NYSE:MHO) Stock Price

M/I Homes (NYSE:MHO) had its price target lowered by equities researchers at Freedom Broker from $172.00 to $155.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Freedom Broker‘s target price would suggest a potential upside of 24.86% from the company’s current price.

MHO has been the subject of several other reports. New Street Research set a $172.00 target price on shares of M/I Homes in a report on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. Zelman & Associates lowered M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Citigroup restated a “market outperform” rating on shares of M/I Homes in a report on Thursday, October 8th. Finally, Jefferies Financial Group set a $165.00 price objective on shares of M/I Homes in a research note on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.83.

M/I Homes Stock Performance

NYSE MHO traded up $0.84 on Friday, hitting $124.14. 448,327 shares of the company’s stock were exchanged, compared to its average volume of 246,325. The firm’s 50-day moving average price is $139.27 and its two-hundred day moving average price is $139.75. M/I Homes has a fifty-two week low of $113.40 and a fifty-two week high of $163.66. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 10.45 and a beta of 1.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.09 and a quick ratio of 1.69.

M/I Homes (NYSE:MHO) last released its quarterly earnings data on Wednesday, October 21st. The construction company reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.55). M/I Homes had a return on equity of 10.12% and a net margin of 6.59%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company posted $3.92 EPS. The company’s revenue was down 1.9% compared to the same quarter last year. On average, research analysts expect that M/I Homes will post 12.12 EPS for the current year.

Insider Buying and Selling at M/I Homes

In related news, CFO Phillip Creek sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $151.28, for a total value of $1,512,800.00. Following the sale, the chief financial officer owned 30,918 shares of the company’s stock, valued at approximately $4,677,275.04. This trade represents a 24.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in M/I Homes in the 2nd quarter valued at about $769,776,000. Donald Smith & CO. Inc. purchased a new stake in M/I Homes during the second quarter valued at about $223,736,000. Junto Capital Management LP grew its position in M/I Homes by 3.1% during the 2nd quarter. Junto Capital Management LP now owns 338,298 shares of the construction company’s stock worth $54,395,000 after purchasing an additional 10,047 shares in the last quarter. Bank of America Corp DE acquired a new position in M/I Homes during the second quarter valued at $31,561,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of M/I Homes in the second quarter worth approximately $30,032,000. Institutional investors own 95.14% of the company’s stock.

About M/I Homes

M/I Homes, Inc is a residential construction company that builds and sells single-family homes for a range of buyers, including first-time, move-up and luxury-home purchasers. Its operations include land acquisition and development, home design, construction, marketing and sales, with communities offered in suburban and metropolitan markets.

The company also provides services that support the homebuying process, including mortgage financing through M/I Financial and title-related services through its affiliated operations.