M/I Homes (NYSE:MHO) Downgraded by Zacks Research to “Strong Sell”

M/I Homes (NYSE:MHO) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday, Zacks reports.

A number of other equities analysts have also weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a research report on Wednesday, August 12th. Freedom Capital upgraded M/I Homes to a “strong-buy” rating in a report on Wednesday, June 24th. New Street Research set a $172.00 price target on shares of M/I Homes in a research report on Tuesday, August 4th. Finally, Zelman & Associates lowered shares of M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.25.

M/I Homes Stock Performance

Shares of M/I Homes stock opened at $139.09 on Wednesday. M/I Homes has a one year low of $116.78 and a one year high of $163.66. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 11.71 and a beta of 1.61. The business has a 50-day simple moving average of $149.39 and a 200 day simple moving average of $139.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.69.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.01. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company earned $4.42 earnings per share. The company’s quarterly revenue was down 6.0% on a year-over-year basis. On average, research analysts anticipate that M/I Homes will post 12.12 earnings per share for the current fiscal year.

Insider Transactions at M/I Homes

In other M/I Homes news, CFO Phillip Creek sold 20,000 shares of M/I Homes stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the completion of the transaction, the chief financial officer owned 30,918 shares in the company, valued at approximately $4,624,096.08. The trade was a 39.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.60% of the company’s stock.

Institutional Trading of M/I Homes

Several institutional investors and hedge funds have recently modified their holdings of MHO. NewEdge Wealth LLC bought a new stake in M/I Homes during the second quarter worth $1,976,000. Empowered Funds LLC purchased a new position in M/I Homes in the second quarter worth $1,969,000. Militia Capital Management LLC purchased a new position in M/I Homes in the first quarter worth $2,816,000. California State Teachers Retirement System grew its stake in M/I Homes by 28.3% in the 1st quarter. California State Teachers Retirement System now owns 32,103 shares of the construction company’s stock valued at $3,931,000 after purchasing an additional 7,086 shares during the period. Finally, Fifth Third Bancorp grew its stake in M/I Homes by 5,254.6% in the 1st quarter. Fifth Third Bancorp now owns 10,495 shares of the construction company’s stock valued at $1,285,000 after purchasing an additional 10,299 shares during the period. 95.14% of the stock is 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.