M/I Homes (NYSE:MHO) Downgraded by StockNews.com

StockNews.com cut shares of M/I Homes (NYSE:MHO) from a strong-buy rating to a buy rating in a research note published on Friday.

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

M/I Homes Stock Performance

M/I Homes stock opened at $174.24 on Friday. The company has a 50 day moving average price of $161.17 and a 200-day moving average price of $140.09. 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 has a fifty-two week low of $74.79 and a fifty-two week high of $176.18. The company has a market capitalization of $4.84 billion, a PE ratio of 10.03 and a beta of 2.23.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $5.12 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm posted $4.12 earnings per share. As a group, equities analysts forecast that M/I Homes will post 19.76 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Robert H. Schottenstein sold 2,089 shares of the business’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 value of $347,024.68. Following the completion of the transaction, the chief executive officer now owns 122,951 shares of the company’s stock, valued at $20,424,620.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Robert H. Schottenstein sold 2,089 shares of the business’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 value of $347,024.68. Following the completion of the transaction, the chief executive officer now owns 122,951 shares of the company’s stock, valued at $20,424,620.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Phillip G. Creek sold 2,767 shares of M/I Homes 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 in the company, valued at $3,082,920.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On M/I Homes

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of M/I Homes by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 2,056,865 shares of the construction company’s stock valued at $283,313,000 after buying an additional 95,437 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of M/I Homes by 187.0% during the second quarter. Renaissance Technologies LLC now owns 79,200 shares of the construction company’s stock valued at $9,673,000 after buying an additional 51,600 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of M/I Homes by 7.7% during the second quarter. American Century Companies Inc. now owns 703,983 shares of the construction company’s stock valued at $85,984,000 after buying an additional 50,330 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of M/I Homes by 3.0% during the first quarter. Westfield Capital Management Co. LP now owns 1,219,989 shares of the construction company’s stock valued at $166,272,000 after buying an additional 35,558 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of M/I Homes during the first quarter valued at $4,281,000. 95.14% of the stock is owned by hedge funds and other 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.