M/I Homes (NYSE:MHO) Reaches New 52-Week High After Analyst Upgrade

Shares of M/I Homes, Inc. (NYSE:MHO) hit a new 52-week high during trading on Wednesday after Freedom Capital upgraded the stock to a strong-buy rating. The company traded as high as $159.98 and last traded at $160.1950, with a volume of 70485 shares traded. The stock had previously closed at $148.65.

Other research analysts have also issued reports about the company. Seaport Research Partners restated a “neutral” rating on shares of M/I Homes in a research note on Tuesday, April 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research note on Friday, May 15th. Finally, Zacks Research downgraded shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

Hedge Funds Weigh In On M/I Homes

Hedge funds have recently modified their holdings of the stock. Hilton Head Capital Partners LLC bought a new stake in M/I Homes in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC raised its stake in M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after acquiring an additional 135 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of M/I Homes during the fourth quarter valued at $49,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of M/I Homes by 1,090.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock valued at $64,000 after acquiring an additional 458 shares during the period. Finally, WealthCollab LLC boosted its stake in shares of M/I Homes by 16.5% in the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock valued at $69,000 after purchasing an additional 87 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

M/I Homes Price Performance

The company’s 50 day moving average price is $134.65 and its 200 day moving average price is $133.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.95 and a current ratio of 8.40. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 11.97 and a beta of 1.62.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, April 22nd. The construction company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.09). The firm had revenue of $920.71 million for the quarter, compared to analyst estimates of $1.18 billion. M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.98 EPS. On average, equities research analysts predict that M/I Homes, Inc. will post 12.6 earnings per share for the current fiscal year.

M/I Homes Company Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.