Wedbush Raises M/I Homes (NYSE:MHO) Price Target to $47.00

M/I Homes (NYSE:MHO) had its target price upped by Wedbush from $31.00 to $47.00 in a report released on Thursday morning, The Fly reports. Wedbush currently has a neutral rating on the construction company’s stock.

Several other research firms also recently commented on MHO. Zacks Investment Research raised shares of M/I Homes from a strong sell rating to a hold rating in a report on Wednesday, July 1st. JMP Securities began coverage on shares of M/I Homes in a report on Tuesday, July 14th. They issued a market outperform rating and a $47.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $41.67.

Shares of M/I Homes stock traded down $1.76 on Thursday, reaching $41.63. 372,641 shares of the company traded hands, compared to its average volume of 279,197. M/I Homes has a 52 week low of $9.62 and a 52 week high of $48.02. The company has a 50 day moving average of $34.81 and a 200 day moving average of $32.07. The firm has a market capitalization of $1.19 billion, a PE ratio of 7.25 and a beta of 2.11. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.23 and a quick ratio of 0.57.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, July 29th. The construction company reported $1.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $1.00. M/I Homes had a net margin of 6.17% and a return on equity of 16.60%. The firm had revenue of $714.50 million during the quarter, compared to the consensus estimate of $597.88 million. During the same period in the prior year, the firm earned $1.08 EPS. The company’s revenue was up 14.6% compared to the same quarter last year. As a group, analysts anticipate that M/I Homes will post 3.31 earnings per share for the current year.

In related news, CFO Phillip G. Creek sold 19,859 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $30.01, for a total value of $595,968.59. Following the completion of the transaction, the chief financial officer now directly owns 15,636 shares of the company’s stock, valued at approximately $469,236.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.20% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in MHO. Mason Street Advisors LLC grew its holdings in M/I Homes by 4.5% in the 4th quarter. Mason Street Advisors LLC now owns 9,802 shares of the construction company’s stock worth $386,000 after acquiring an additional 425 shares during the last quarter. KCS Wealth Advisory grew its holdings in M/I Homes by 1.5% in the 1st quarter. KCS Wealth Advisory now owns 32,296 shares of the construction company’s stock worth $534,000 after acquiring an additional 485 shares during the last quarter. Bessemer Group Inc. grew its holdings in M/I Homes by 0.7% in the 1st quarter. Bessemer Group Inc. now owns 74,800 shares of the construction company’s stock worth $1,236,000 after acquiring an additional 500 shares during the last quarter. SG Americas Securities LLC grew its holdings in M/I Homes by 4.3% in the 2nd quarter. SG Americas Securities LLC now owns 14,861 shares of the construction company’s stock worth $512,000 after acquiring an additional 616 shares during the last quarter. Finally, Verus Capital Partners LLC bought a new stake in M/I Homes in the 4th quarter worth $26,000. 96.23% of the stock is owned by hedge funds and other institutional investors.

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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