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

M/I Homes (NYSE:MHO) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday, Zacks reports.

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

M/I Homes Stock Performance

MHO opened at $139.09 on Wednesday. The business has a 50 day moving average price of $149.39 and a two-hundred day moving average price of $139.19. 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 company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 11.71 and a beta of 1.61. M/I Homes has a 1-year low of $116.78 and a 1-year high of $163.66.

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

Insider Activity

In related news, CFO Phillip Creek sold 20,000 shares of M/I Homes stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total value of $2,991,200.00. Following the transaction, the chief financial officer directly owned 30,918 shares in the company, valued at $4,624,096.08. The trade was a 39.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On M/I Homes

Several hedge funds have recently modified their holdings of MHO. Intech Investment Management LLC grew its holdings in shares of M/I Homes by 0.5% in the 4th quarter. Intech Investment Management LLC now owns 14,883 shares of the construction company’s stock valued at $1,904,000 after buying an additional 72 shares during the period. Corient Private Wealth LLC raised its stake in M/I Homes by 2.0% during the 4th quarter. Corient Private Wealth LLC now owns 3,891 shares of the construction company’s stock worth $498,000 after buying an additional 76 shares during the period. WealthCollab LLC raised its stake in M/I Homes by 16.5% during the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock worth $69,000 after buying an additional 87 shares during the period. Private Advisor Group LLC lifted its holdings in M/I Homes by 3.0% during the third quarter. Private Advisor Group LLC now owns 3,027 shares of the construction company’s stock worth $437,000 after acquiring an additional 89 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in M/I Homes by 33.0% during the first quarter. EverSource Wealth Advisors LLC now owns 391 shares of the construction company’s stock worth $48,000 after acquiring an additional 97 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.