M/I Homes’ (MHO) “Strong-Buy” Rating Reiterated at Raymond James

Raymond James restated their strong-buy rating on shares of M/I Homes (NYSE:MHO) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $168.00 target price on the construction company’s stock, down from their prior target price of $210.00.

A number of other equities research analysts have also weighed in on the stock. StockNews.com lowered shares of M/I Homes from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Wedbush upgraded M/I Homes from a “neutral” rating to an “outperform” rating and raised their price target for the company from $155.00 to $185.00 in a research note on Monday, November 4th.

M/I Homes Price Performance

MHO stock opened at $125.84 on Thursday. The business’s 50-day moving average is $142.70 and its two-hundred day moving average is $153.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 6.81 and a quick ratio of 1.60. The firm has a market capitalization of $3.49 billion, a P/E ratio of 6.38 and a beta of 2.29. M/I Homes has a 1 year low of $109.92 and a 1 year high of $176.18.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, January 29th. The construction company reported $4.71 earnings per share for the quarter, missing the consensus estimate of $4.96 by ($0.25). M/I Homes had a net margin of 12.51% and a return on equity of 20.56%. Analysts anticipate that M/I Homes will post 20.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $160.00, for a total transaction of $3,200,000.00. Following the transaction, the chief financial officer now owns 18,545 shares of the company’s stock, valued at approximately $2,967,200. This trade represents a 51.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of M/I Homes

Several institutional investors and hedge funds have recently made changes to their positions in MHO. Hennessy Advisors Inc. acquired a new position in M/I Homes during the fourth quarter worth approximately $43,674,000. Assenagon Asset Management S.A. grew its position in shares of M/I Homes by 260.3% during the third quarter. Assenagon Asset Management S.A. now owns 199,877 shares of the construction company’s stock worth $34,251,000 after acquiring an additional 144,406 shares during the last quarter. Vision Capital Corp acquired a new position in shares of M/I Homes in the 3rd quarter valued at $12,424,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in M/I Homes by 129.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 124,546 shares of the construction company’s stock valued at $21,342,000 after purchasing an additional 70,278 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in M/I Homes by 30.0% during the 3rd quarter. Royce & Associates LP now owns 192,907 shares of the construction company’s stock worth $33,057,000 after purchasing an additional 44,559 shares during the period. 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.