ValuEngine upgraded shares of M/I Homes (NYSE:MHO) from a strong sell rating to a sell rating in a report published on Thursday morning.

MHO has been the subject of several other reports. Zacks Investment Research upgraded M/I Homes from a sell rating to a hold rating in a research note on Wednesday, September 26th. Wedbush set a $32.00 target price on M/I Homes and gave the company a buy rating in a research note on Thursday, October 25th. Finally, JMP Securities set a $30.00 target price on M/I Homes and gave the company a buy rating in a research note on Monday, October 15th. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $34.33.

Shares of NYSE MHO traded up $0.28 during trading on Thursday, reaching $23.62. The company had a trading volume of 387 shares, compared to its average volume of 264,167. M/I Homes has a twelve month low of $21.30 and a twelve month high of $37.41. The stock has a market cap of $635.27 million, a price-to-earnings ratio of 8.10 and a beta of 0.94. The company has a quick ratio of 0.50, a current ratio of 6.23 and a debt-to-equity ratio of 1.05.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, October 24th. The construction company reported $1.03 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.03. The firm had revenue of $567.80 million during the quarter, compared to analyst estimates of $552.54 million. M/I Homes had a return on equity of 13.46% and a net margin of 4.17%. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. As a group, analysts anticipate that M/I Homes will post 3.97 EPS for the current year.

M/I Homes declared that its board has approved a stock buyback plan on Tuesday, August 14th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

A number of institutional investors have recently added to or reduced their stakes in MHO. Towle & Co. acquired a new position in M/I Homes in the third quarter valued at $18,068,000. Walthausen & Co. LLC purchased a new stake in M/I Homes during the third quarter valued at about $12,638,000. BlackRock Inc. grew its position in M/I Homes by 12.2% during the third quarter. BlackRock Inc. now owns 4,828,502 shares of the construction company’s stock valued at $115,547,000 after acquiring an additional 525,483 shares during the period. Citadel Advisors LLC grew its position in M/I Homes by 414.2% during the third quarter. Citadel Advisors LLC now owns 541,195 shares of the construction company’s stock valued at $12,951,000 after acquiring an additional 435,953 shares during the period. Finally, Advisors Asset Management Inc. grew its position in M/I Homes by 6,064.4% during the second quarter. Advisors Asset Management Inc. now owns 274,686 shares of the construction company’s stock valued at $126,000 after acquiring an additional 270,230 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.

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