M/I Homes (NYSE:MHO) Lowered 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 research report released on Friday.

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 research note on Friday, August 2nd.

M/I Homes Stock Performance

NYSE:MHO opened at $174.24 on Friday. The company’s 50-day moving average is $161.17 and its two-hundred day moving average is $139.88. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 10.03 and a beta of 2.23. 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 1-year low of $74.79 and a 1-year high of $176.18.

M/I Homes (NYSE:MHO) last issued its quarterly earnings data 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. M/I Homes had a return on equity of 20.50% and a net margin of 12.67%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted $4.12 earnings per share. Analysts forecast that M/I Homes will post 19.76 EPS 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 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 owns 18,545 shares in the company, valued at approximately $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 can be accessed through the SEC website. In other M/I Homes news, CEO Robert H. Schottenstein sold 2,089 shares of the business’s 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 transaction, the chief executive officer now owns 122,951 shares in the company, valued at $20,424,620.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Phillip G. Creek sold 2,767 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were 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 owns 18,545 shares in the company, valued at $3,082,920.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On M/I Homes

Large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in M/I Homes during the 3rd quarter worth about $27,000. Signaturefd LLC boosted 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 valued at $29,000 after purchasing an additional 71 shares in the last quarter. CWM LLC raised its holdings in 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 purchasing an additional 329 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of M/I Homes during the 1st quarter worth approximately $68,000. Finally, Quarry LP boosted its holdings in shares of 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 buying an additional 333 shares in the last quarter. 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.