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 research note issued on Thursday.

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 note on Friday, August 2nd.

M/I Homes Trading Up 0.3 %

M/I Homes stock opened at $167.23 on Thursday. The firm has a 50-day moving average of $153.79 and a 200-day moving average of $133.80. M/I Homes has a one year low of $74.79 and a one year high of $173.86. The company has a debt-to-equity ratio of 0.33, a current ratio of 6.62 and a quick ratio of 1.76. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 9.62 and a beta of 2.23.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $5.12 EPS for the quarter, topping analysts’ consensus estimates of $4.60 by $0.52. M/I Homes had a net margin of 12.67% and a return on equity of 20.50%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business posted $4.12 EPS. On average, equities analysts expect that M/I Homes will post 19.76 earnings per share for the current fiscal year.

Insider Activity at M/I Homes

In related news, CEO Robert H. Schottenstein sold 2,089 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $166.12, for a total value of $347,024.68. Following the completion of the sale, the chief executive officer now directly owns 122,951 shares in the company, valued at approximately $20,424,620.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Robert H. Schottenstein sold 2,089 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $166.12, for a total value of $347,024.68. Following the completion of the sale, the chief executive officer now directly owns 122,951 shares in the company, valued at approximately $20,424,620.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Phillip G. Creek sold 2,767 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 18,545 shares of the company’s stock, valued at $3,082,920.80. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MHO. Signaturefd LLC raised its holdings in M/I Homes by 42.8% in the 2nd quarter. Signaturefd LLC now owns 237 shares of the construction company’s stock valued at $29,000 after acquiring an additional 71 shares during the period. CWM LLC raised its holdings 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 acquiring an additional 329 shares during the period. Hollencrest Capital Management bought a new position in M/I Homes in the 1st quarter valued at about $68,000. Quarry LP raised its holdings in M/I Homes by 148.0% in the 2nd quarter. Quarry LP now owns 558 shares of the construction company’s stock valued at $68,000 after acquiring an additional 333 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in M/I Homes by 28.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 500 shares of the construction company’s stock valued at $69,000 after acquiring an additional 110 shares during the period. 95.14% of the stock is owned by institutional investors.

About M/I Homes

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.