StockNews.com Upgrades M/I Homes (NYSE:MHO) to “Strong-Buy”

M/I Homes (NYSE:MHO) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Separately, Raymond James lifted their price target 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 Stock Performance

NYSE:MHO opened at $162.80 on Thursday. 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 company has a market cap of $4.52 billion, a P/E ratio of 9.37 and a beta of 2.23. M/I Homes has a fifty-two week low of $74.79 and a fifty-two week high of $173.86. The firm’s 50 day moving average is $158.23 and its two-hundred day moving average is $138.28.

M/I Homes (NYSE:MHO) last issued its earnings results on Tuesday, July 30th. The construction company reported $5.12 EPS for the quarter, beating 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 business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm posted $4.12 EPS. Analysts expect that M/I Homes will post 19.76 EPS for the current year.

Insiders Place Their Bets

In other M/I Homes news, CEO Robert H. Schottenstein sold 2,089 shares of the firm’s stock in a transaction 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 $20,424,620.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Robert H. Schottenstein sold 2,089 shares of M/I Homes 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 transaction, the chief executive officer now directly owns 122,951 shares of the company’s stock, valued at approximately $20,424,620.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Phillip G. Creek sold 2,767 shares of M/I Homes 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 transaction, the chief financial officer now directly owns 18,545 shares of the company’s stock, valued at $3,082,920.80. This trade 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 owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC boosted its holdings in shares of 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 buying an additional 71 shares during the period. Bay Rivers Group boosted its stake in M/I Homes by 1.7% during the 2nd quarter. Bay Rivers Group now owns 4,458 shares of the construction company’s stock valued at $544,000 after purchasing an additional 75 shares during the period. Xponance Inc. boosted its stake in M/I Homes by 4.9% during the 2nd quarter. Xponance Inc. now owns 1,718 shares of the construction company’s stock valued at $210,000 after purchasing an additional 80 shares during the period. Truist Financial Corp boosted its stake in M/I Homes by 1.4% during the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the construction company’s stock valued at $760,000 after purchasing an additional 87 shares during the period. Finally, SummerHaven Investment Management LLC boosted its stake in M/I Homes by 1.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 8,393 shares of the construction company’s stock valued at $1,025,000 after purchasing an additional 123 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

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.