M/I Homes (NYSE:MHO) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of M/I Homes (NYSE:MHO) from a strong-buy rating to a buy rating in a research note released on Saturday morning.

Separately, Raymond James increased their price objective on shares of 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.

M/I Homes Stock Up 0.7 %

MHO stock opened at $157.20 on Friday. M/I Homes has a one year low of $74.79 and a one year high of $173.86. The firm has a market cap of $4.36 billion, a PE ratio of 9.04 and a beta of 2.23. The firm’s 50 day moving average price is $146.96 and its 200-day moving average price is $131.67. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 6.62.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $5.12 EPS for the quarter, beating the consensus estimate of $4.60 by $0.52. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $4.12 EPS. On average, equities research analysts anticipate that M/I Homes will post 19.76 EPS for the current year.

Insider Activity at M/I Homes

In related news, CFO Phillip G. Creek sold 2,767 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $166.24, for a total transaction of $459,986.08. Following the completion of the transaction, the chief financial officer now directly owns 18,545 shares in the company, valued at approximately $3,082,920.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Phillip G. Creek sold 2,767 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $166.24, for a total transaction of $459,986.08. Following the sale, the chief financial officer now owns 18,545 shares of the company’s stock, valued at $3,082,920.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert H. Schottenstein sold 2,089 shares of the firm’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 directly owns 122,951 shares of the company’s stock, valued at approximately $20,424,620.12. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On M/I Homes

Several institutional investors have recently modified their holdings of MHO. Signaturefd LLC raised its stake 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 acquiring an additional 71 shares in the last quarter. USA Financial Formulas increased its holdings in M/I Homes by 578.1% during the 4th quarter. USA Financial Formulas now owns 217 shares of the construction company’s stock worth $30,000 after purchasing an additional 185 shares during the period. CWM LLC raised its position in M/I Homes by 184.8% in the 2nd quarter. CWM LLC now owns 507 shares of the construction company’s stock valued at $62,000 after purchasing an additional 329 shares in the last quarter. Hollencrest Capital Management purchased a new position in shares of M/I Homes in the 1st quarter valued at about $68,000. Finally, Quarry LP grew its position in shares of M/I Homes by 148.0% during the second quarter. Quarry LP now owns 558 shares of the construction company’s stock worth $68,000 after buying an additional 333 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

M/I Homes Company Profile

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.