M/I Homes (NYSE:MHO) Rating Lowered to “Strong Sell” at Zacks Research

M/I Homes (NYSE:MHO) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research firms have also recently weighed in on MHO. Citizens Jmp assumed coverage on shares of M/I Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $165.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a research report on Thursday, January 22nd. Citigroup restated a “market outperform” rating on shares of M/I Homes in a research report on Friday, January 30th. Oppenheimer set a $165.00 price objective on shares of M/I Homes in a research report on Friday, January 30th. Finally, Seaport Research Partners restated a “neutral” rating on shares of M/I Homes in a research report on Tuesday, April 7th. One research analyst has 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

M/I Homes Stock Performance

M/I Homes stock opened at $131.72 on Tuesday. The firm’s fifty day moving average price is $128.82 and its 200-day moving average price is $132.00. 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 stock has a market cap of $3.37 billion, a P/E ratio of 9.92 and a beta of 1.65. M/I Homes has a fifty-two week low of $103.52 and a fifty-two week high of $158.92.

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

Insider Activity at M/I Homes

In other M/I Homes news, CEO Robert H. Schottenstein sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $144.47, for a total value of $2,889,400.00. Following the completion of the sale, the chief executive officer owned 313,874 shares in the company, valued at approximately $45,345,376.78. The trade was a 5.99% 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. Also, CFO Phillip G. Creek sold 8,616 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $1,264,828.80. Following the completion of the sale, the chief financial officer owned 45,815 shares of the company’s stock, valued at $6,725,642. The trade was a 15.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 44,213 shares of company stock valued at $6,443,868. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On M/I Homes

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of M/I Homes by 26.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 266,582 shares of the construction company’s stock valued at $38,505,000 after purchasing an additional 55,206 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of M/I Homes during the 3rd quarter valued at about $3,401,000. Capelight Capital Asset Management LP bought a new stake in shares of M/I Homes during the 4th quarter valued at about $7,037,000. American Century Companies Inc. boosted its stake in shares of M/I Homes by 10.9% during the 3rd quarter. American Century Companies Inc. now owns 936,597 shares of the construction company’s stock valued at $135,282,000 after purchasing an additional 91,732 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of M/I Homes by 83.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 39,831 shares of the construction company’s stock valued at $5,753,000 after purchasing an additional 18,095 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

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.