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

StockNews.com downgraded shares of M/I Homes (NYSE:MHOFree Report) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning.

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

Read Our Latest Stock Report on MHO

M/I Homes Stock Performance

MHO stock opened at $169.58 on Thursday. M/I Homes has a twelve month low of $74.79 and a twelve month high of $173.86. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 9.76 and a beta of 2.23. The business’s fifty day simple moving average is $155.23 and its two-hundred day simple moving average is $134.50. The company has a quick ratio of 1.76, a current ratio of 6.62 and a debt-to-equity ratio of 0.33.

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

Insider Transactions at M/I Homes

In related news, CEO Robert H. Schottenstein sold 2,089 shares of the firm’s stock in a transaction dated 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 directly owns 122,951 shares in the company, valued at $20,424,620.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other M/I Homes news, CFO Phillip G. Creek sold 2,767 shares of M/I Homes 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 transaction, the chief financial officer now directly owns 18,545 shares of the company’s stock, valued at approximately $3,082,920.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $347,024.68. Following the sale, the chief executive officer now directly owns 122,951 shares in the company, 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 Trading of M/I Homes

A number of large investors have recently made changes to their positions in the company. Signaturefd LLC raised its holdings in shares of M/I Homes by 42.8% in 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 raised its stake in 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 acquiring an additional 329 shares during the last quarter. Hollencrest Capital Management acquired a new stake in M/I Homes during the 1st quarter worth approximately $68,000. Quarry LP lifted its position 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 acquiring an additional 333 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of 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 purchasing an additional 110 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

About M/I Homes

(Get Free Report)

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.

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