M/I Homes (NYSE:MHO) Shares Up 4.5% – Here’s What Happened

M/I Homes, Inc. (NYSE:MHO)’s stock price rose 4.5% on Friday . The stock traded as high as $111.00 and last traded at $114.00. Approximately 90,827 shares traded hands during trading, a decline of 68% from the average daily volume of 286,723 shares. The stock had previously closed at $109.10.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Seaport Res Ptn upgraded shares of M/I Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Raymond James reaffirmed a “strong-buy” rating and issued a $168.00 target price (down previously from $210.00) on shares of M/I Homes in a report on Thursday, January 30th. Finally, StockNews.com upgraded M/I Homes from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th.

M/I Homes Price Performance

The company has a quick ratio of 1.93, a current ratio of 7.65 and a debt-to-equity ratio of 0.33. The firm’s fifty day moving average price is $119.37 and its 200 day moving average price is $141.98. The stock has a market cap of $3.12 billion, a PE ratio of 5.82 and a beta of 2.31.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.71 EPS for the quarter, missing the consensus estimate of $4.96 by ($0.25). M/I Homes had a return on equity of 20.20% and a net margin of 12.51%. As a group, equities analysts expect that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

Hedge Funds Weigh In On M/I Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of M/I Homes during the 4th quarter worth approximately $27,000. R Squared Ltd purchased a new stake in M/I Homes during the fourth quarter valued at $33,000. Aster Capital Management DIFC Ltd purchased a new stake in M/I Homes during the fourth quarter valued at $50,000. Steward Partners Investment Advisory LLC bought a new position in M/I Homes during the fourth quarter valued at $70,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of M/I Homes in the 4th quarter worth $80,000. 95.14% of the stock is 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.