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

StockNews.com downgraded shares of M/I Homes (NYSE:MHO) from a strong-buy rating to a buy rating in a report released on Friday.

Separately, Raymond James upped 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 report on Friday, August 2nd.

M/I Homes Stock Performance

Shares of MHO stock opened at $164.90 on Friday. The stock has a market capitalization of $4.58 billion, a PE ratio of 9.49 and a beta of 2.23. The business’s 50 day simple moving average is $161.63 and its 200 day simple moving average is $140.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 6.62 and a quick ratio of 1.76. M/I Homes has a one year low of $74.79 and a one year high of $176.18.

M/I Homes (NYSE:MHO) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $5.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.60 by $0.52. M/I Homes had a net margin of 12.67% and a return on equity of 20.50%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company earned $4.12 EPS. As a group, research analysts forecast that M/I Homes will post 19.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Phillip G. Creek sold 2,767 shares of M/I Homes 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 sale, the chief financial officer now owns 18,545 shares in the company, valued at $3,082,920.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other 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 value of $459,986.08. Following the completion of the sale, the chief financial officer now directly owns 18,545 shares in the company, valued at $3,082,920.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert H. Schottenstein sold 2,089 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $166.12, for a total value of $347,024.68. Following the transaction, the chief executive officer now directly owns 122,951 shares in the company, valued at approximately $20,424,620.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On M/I Homes

Large investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in M/I Homes during the 3rd quarter valued at $27,000. Signaturefd LLC grew its holdings in shares of M/I Homes by 42.8% during the second quarter. Signaturefd LLC now owns 237 shares of the construction company’s stock valued at $29,000 after buying an additional 71 shares during the last quarter. CWM LLC increased its position in shares of M/I Homes by 184.8% during the second quarter. CWM LLC now owns 507 shares of the construction company’s stock worth $62,000 after acquiring an additional 329 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of M/I Homes in the 1st quarter worth about $68,000. Finally, Quarry LP lifted its position in M/I Homes by 148.0% in the 2nd quarter. Quarry LP now owns 558 shares of the construction company’s stock valued at $68,000 after acquiring an additional 333 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

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.