M/I Homes (NYSE:MHO) Hits New 12-Month High After Analyst Upgrade

Shares of M/I Homes, Inc. (NYSE:MHO) hit a new 52-week high during trading on Wednesday after Freedom Capital upgraded the stock to a strong-buy rating. The company traded as high as $159.98 and last traded at $160.1950, with a volume of 70485 shares trading hands. The stock had previously closed at $148.65.

Several other equities research analysts also recently issued reports on MHO. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Weiss Ratings reissued a “hold (c)” rating on shares of M/I Homes in a research note on Friday, May 15th. Finally, Seaport Research Partners restated a “neutral” rating on shares of M/I Homes in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $161.67.

Hedge Funds Weigh In On M/I Homes

A number of hedge funds and other institutional investors have recently bought and sold shares of MHO. Intech Investment Management LLC increased its position in M/I Homes by 0.5% during the fourth quarter. Intech Investment Management LLC now owns 14,883 shares of the construction company’s stock worth $1,904,000 after buying an additional 72 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of M/I Homes by 2.0% during the 4th quarter. Corient Private Wealth LLC now owns 3,891 shares of the construction company’s stock worth $498,000 after acquiring an additional 76 shares during the period. WealthCollab LLC increased its holdings in shares of M/I Homes by 16.5% during the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock worth $69,000 after acquiring an additional 87 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of M/I Homes by 3.0% during the 3rd quarter. Private Advisor Group LLC now owns 3,027 shares of the construction company’s stock worth $437,000 after acquiring an additional 89 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in M/I Homes by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 14,839 shares of the construction company’s stock valued at $1,897,000 after acquiring an additional 96 shares during the period. Institutional investors own 95.14% of the company’s stock.

M/I Homes Stock Up 0.1%

The firm has a fifty day simple moving average of $134.65 and a 200-day simple moving average of $133.39. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 11.97 and a beta of 1.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.95 and a current ratio of 8.40.

M/I Homes (NYSE:MHO) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.09). The company had revenue of $920.71 million during the quarter, compared to analyst estimates of $1.18 billion. M/I Homes had a net margin of 8.24% and a return on equity of 12.91%. M/I Homes’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.98 earnings per share. As a group, sell-side analysts expect that M/I Homes, Inc. will post 12.6 EPS for the current year.

M/I Homes Company Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.