M/I Homes (NYSE:MHO) Given New $41.00 Price Target at Wedbush

M/I Homes (NYSE:MHO) had its price target increased by Wedbush from $35.00 to $41.00 in a research note released on Thursday morning, The Fly reports. The firm currently has a neutral rating on the construction company’s stock.

A number of other analysts have also issued reports on the stock. ValuEngine lowered shares of M/I Homes from a hold rating to a sell rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered shares of M/I Homes from a strong-buy rating to a hold rating in a research note on Wednesday, September 25th. Finally, TheStreet upgraded shares of M/I Homes from a c+ rating to a b rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The stock currently has an average rating of Hold and a consensus price target of $35.67.

NYSE:MHO traded down $0.12 on Thursday, reaching $39.66. 145,943 shares of the company’s stock were exchanged, compared to its average volume of 228,229. The company has a quick ratio of 0.46, a current ratio of 6.10 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 9.80 and a beta of 0.96. The business has a fifty day moving average of $37.02 and a 200-day moving average of $31.77. M/I Homes has a 52-week low of $20.34 and a 52-week high of $39.98.

M/I Homes (NYSE:MHO) last issued its quarterly earnings results on Wednesday, July 24th. The construction company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.22. The company had revenue of $623.69 million for the quarter, compared to analyst estimates of $546.04 million. M/I Homes had a net margin of 4.58% and a return on equity of 13.32%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share. As a group, equities analysts anticipate that M/I Homes will post 4.26 earnings per share for the current year.

In related news, CEO Robert H. Schottenstein sold 148,500 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $32.15, for a total transaction of $4,774,275.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP J Thomas Mason sold 27,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $35.84, for a total transaction of $985,600.00. Following the sale, the vice president now owns 16,500 shares in the company, valued at $591,360. The disclosure for this sale can be found here. Insiders have sold 253,000 shares of company stock worth $8,235,425 over the last 90 days. Insiders own 4.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in shares of M/I Homes during the second quarter worth approximately $25,000. Investors Research Corp purchased a new position in M/I Homes in the second quarter valued at approximately $26,000. Nisa Investment Advisors LLC purchased a new position in M/I Homes in the third quarter valued at approximately $100,000. Simplex Trading LLC purchased a new position in M/I Homes in the third quarter valued at approximately $102,000. Finally, Everence Capital Management Inc. purchased a new position in M/I Homes in the third quarter valued at approximately $221,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

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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