M/I Homes (NYSE:MHO) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of M/I Homes (NYSE:MHO) from a hold rating to a strong sell rating in a research report report published on Wednesday morning,Zacks reports.

A number of other research firms have also recently commented on MHO. Zelman & Associates cut M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a “hold (c)” rating on shares of M/I Homes in a research report on Wednesday, August 12th. New Street Research set a $172.00 price target on M/I Homes in a research note on Tuesday, August 4th. Finally, Freedom Capital raised M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, M/I Homes presently has an average rating of “Moderate Buy” and a consensus price target of $164.25.

M/I Homes Price Performance

Shares of NYSE:MHO opened at $139.09 on Wednesday. The company’s fifty day moving average price is $149.39 and its 200 day moving average price is $139.19. M/I Homes has a 12 month low of $116.78 and a 12 month high of $163.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.69. The firm has a market capitalization of $3.52 billion, a P/E ratio of 11.71 and a beta of 1.61.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.01. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $4.42 earnings per share. M/I Homes’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, sell-side analysts predict that M/I Homes will post 12.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Phillip Creek sold 10,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total transaction of $1,512,800.00. Following the completion of the sale, the chief financial officer owned 30,918 shares in the company, valued at $4,677,275.04. This represents a 24.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MHO. Integrated Wealth Concepts LLC acquired a new stake in shares of M/I Homes during the second quarter worth about $26,000. Hilton Head Capital Partners LLC purchased a new position in shares of M/I Homes during the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC increased its position in M/I Homes by 90.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after acquiring an additional 135 shares during the period. Langley Wealth Management LLC acquired a new position in M/I Homes in the 2nd quarter valued at about $45,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in M/I Homes during the 4th quarter valued at approximately $49,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.