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

M/I Homes (NYSE:MHO) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Separately, Raymond James raised their price target on M/I Homes from $200.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd.

M/I Homes Trading Down 1.8 %

M/I Homes stock opened at $171.82 on Friday. M/I Homes has a 52-week low of $74.79 and a 52-week high of $176.18. The company has a quick ratio of 1.76, a current ratio of 6.62 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 9.89 and a beta of 2.23. The firm has a 50-day moving average price of $160.57 and a two-hundred day moving average price of $139.59.

M/I Homes (NYSE:MHO) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $5.12 earnings per share (EPS) 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 business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $4.12 earnings per share. Sell-side analysts expect that M/I Homes will post 19.76 earnings per share for the current year.

Insider Activity at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 2,767 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $3,082,920.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Phillip G. Creek sold 2,767 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.24, for a total value of $459,986.08. Following the sale, the chief financial officer now owns 18,545 shares of the company’s stock, valued at approximately $3,082,920.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert H. Schottenstein sold 2,089 shares of M/I Homes stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $166.12, for a total value of $347,024.68. Following the transaction, the chief executive officer now directly owns 122,951 shares in the company, valued at approximately $20,424,620.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Trading of M/I Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in MHO. Vanguard Group Inc. lifted its position in shares of M/I Homes by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 2,056,865 shares of the construction company’s stock valued at $283,313,000 after acquiring an additional 95,437 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of M/I Homes by 137.1% during the first quarter. Los Angeles Capital Management LLC now owns 12,021 shares of the construction company’s stock valued at $1,638,000 after purchasing an additional 6,950 shares during the last quarter. Congress Asset Management Co. MA boosted its position in shares of M/I Homes by 0.5% in the 1st quarter. Congress Asset Management Co. MA now owns 47,256 shares of the construction company’s stock valued at $6,441,000 after purchasing an additional 213 shares during the period. DGS Capital Management LLC increased its stake in M/I Homes by 8.9% in the 1st quarter. DGS Capital Management LLC now owns 5,965 shares of the construction company’s stock worth $813,000 after purchasing an additional 486 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in M/I Homes by 5.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,537 shares of the construction company’s stock worth $891,000 after buying an additional 325 shares during the period. 95.14% of the stock is currently owned by institutional investors.

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.