M/I Homes (NYSE:MHO) Downgraded to Buy at StockNews.com

StockNews.com lowered shares of M/I Homes (NYSE:MHO) from a strong-buy rating to a buy rating in a research note released on Thursday.

Separately, Raymond James increased their target price on shares of M/I Homes from $200.00 to $210.00 and gave the stock a strong-buy rating in a report on Friday, August 2nd.

M/I Homes Stock Performance

Shares of MHO stock opened at $159.37 on Thursday. The company has a market capitalization of $4.42 billion, a P/E ratio of 9.17 and a beta of 2.22. M/I Homes has a fifty-two week low of $74.79 and a fifty-two week high of $173.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 6.62. The stock has a 50 day moving average price of $143.38 and a two-hundred day moving average price of $130.42.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $5.12 EPS for the quarter, beating analysts’ consensus estimates of $4.60 by $0.52. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. M/I Homes had a net margin of 12.67% and a return on equity of 20.50%. During the same period in the prior year, the business posted $4.12 EPS. Analysts expect that M/I Homes will post 19.76 earnings per share for the current year.

Insider Activity

In related news, CFO Phillip G. Creek sold 2,767 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.24, for a total value of $459,986.08. Following the completion of the sale, the chief financial officer now owns 18,545 shares of the company’s stock, valued at $3,082,920.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other M/I Homes news, CFO Phillip G. Creek sold 2,767 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $166.24, for a total value of $459,986.08. Following the completion of the transaction, the chief financial officer now directly owns 18,545 shares in the company, valued at approximately $3,082,920.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert H. Schottenstein sold 2,089 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $166.12, for a total transaction of $347,024.68. Following the completion of the sale, the chief executive officer now directly owns 122,951 shares of the company’s stock, valued at $20,424,620.12. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of M/I Homes in the 4th quarter valued at approximately $27,000. Signaturefd LLC raised its holdings in M/I Homes by 42.8% in the second quarter. Signaturefd LLC now owns 237 shares of the construction company’s stock worth $29,000 after purchasing an additional 71 shares in the last quarter. USA Financial Formulas lifted its position in M/I Homes by 578.1% during the fourth quarter. USA Financial Formulas now owns 217 shares of the construction company’s stock valued at $30,000 after buying an additional 185 shares during the period. CWM LLC boosted its holdings in shares of M/I Homes by 184.8% during the 2nd quarter. CWM LLC now owns 507 shares of the construction company’s stock valued at $62,000 after buying an additional 329 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new stake in shares of M/I Homes in the 1st quarter worth about $68,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

About M/I Homes

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.