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

M/I Homes (NYSE:MHO) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

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

M/I Homes Stock Performance

Shares of M/I Homes stock opened at $169.47 on Thursday. The business’s 50 day moving average price is $155.23 and its 200 day moving average price is $134.36. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 9.75 and a beta of 2.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 6.62. M/I Homes has a one year low of $74.79 and a one year high of $173.86.

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, topping the consensus estimate of $4.60 by $0.52. M/I Homes had a return on equity of 20.50% and a net margin of 12.67%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the firm earned $4.12 EPS. On average, research analysts predict that M/I Homes will post 19.76 EPS 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 dated Thursday, August 1st. The stock was sold at an average price of $166.24, for a total transaction of $459,986.08. Following the completion of the sale, the chief financial officer now directly owns 18,545 shares of the company’s stock, valued at approximately $3,082,920.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Phillip G. Creek sold 2,767 shares of the company’s stock in a transaction that occurred 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 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 SEC, which is accessible through this hyperlink. Also, CEO Robert H. Schottenstein sold 2,089 shares of M/I Homes stock in a transaction that occurred on Thursday, August 1st. The shares were 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 owns 122,951 shares of the company’s stock, valued at approximately $20,424,620.12. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On M/I Homes

Several institutional investors and hedge funds have recently modified their holdings of MHO. Signaturefd LLC grew its position in M/I Homes by 42.8% in the 2nd quarter. Signaturefd LLC now owns 237 shares of the construction company’s stock valued at $29,000 after acquiring an additional 71 shares in the last quarter. CWM LLC grew its holdings in shares of M/I Homes by 184.8% in the second quarter. CWM LLC now owns 507 shares of the construction company’s stock valued at $62,000 after purchasing an additional 329 shares in the last quarter. Hollencrest Capital Management purchased a new stake in M/I Homes during the 1st quarter worth approximately $68,000. Quarry LP lifted its holdings in M/I Homes by 148.0% during the 2nd quarter. Quarry LP now owns 558 shares of the construction company’s stock worth $68,000 after buying an additional 333 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in M/I Homes by 28.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 500 shares of the construction company’s stock valued at $69,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

M/I Homes Company Profile

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.