M/I Homes (NYSE:MHO) Upgraded by Freedom Capital to “Strong-Buy” Rating

Freedom Capital upgraded shares of M/I Homes (NYSE:MHO) to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

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

M/I Homes Stock Up 0.1%

M/I Homes stock opened at $158.95 on Wednesday. The business’s 50-day simple moving average is $134.65 and its two-hundred day simple moving average is $133.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.95 and a current ratio of 8.40. The company has a market cap of $4.07 billion, a PE ratio of 11.97 and a beta of 1.62. M/I Homes has a fifty-two week low of $108.92 and a fifty-two week high of $163.66.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, April 22nd. The construction company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.09). The business had revenue of $920.71 million for the quarter, compared to analysts’ expectations of $1.18 billion. M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the business earned $3.98 EPS. Equities analysts anticipate that M/I Homes will post 12.6 EPS for the current year.

Institutional Trading of M/I Homes

Large investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. raised its stake in M/I Homes by 5.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company’s stock valued at $187,234,000 after purchasing an additional 82,090 shares during the last quarter. State Street Corp boosted its stake in M/I Homes by 2.2% during the 4th quarter. State Street Corp now owns 1,337,188 shares of the construction company’s stock worth $171,093,000 after purchasing an additional 28,187 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of M/I Homes by 10.9% during the third quarter. American Century Companies Inc. now owns 936,597 shares of the construction company’s stock worth $135,282,000 after buying an additional 91,732 shares in the last quarter. Millennium Management LLC grew its holdings in shares of M/I Homes by 107.5% during the fourth quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock worth $55,592,000 after buying an additional 225,120 shares in the last quarter. Finally, Royce & Associates LP raised its position in shares of M/I Homes by 5.3% in the fourth quarter. Royce & Associates LP now owns 326,606 shares of the construction company’s stock valued at $41,789,000 after buying an additional 16,445 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.