M/I Homes (NYSE:MHO) Upgraded to Strong-Buy at StockNews.com

M/I Homes (NYSE:MHO) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

Separately, Wedbush reaffirmed a “neutral” rating and set a $130.00 target price (up previously from $116.00) on shares of M/I Homes in a report on Wednesday.

M/I Homes Stock Down 0.2 %

Shares of MHO stock traded down $0.22 during trading hours on Friday, reaching $120.07. 334,055 shares of the company’s stock were exchanged, compared to its average volume of 273,687. M/I Homes has a 1 year low of $64.28 and a 1 year high of $140.73. The stock has a market cap of $3.33 billion, a PE ratio of 6.91 and a beta of 2.13. The company has a current ratio of 6.51, a quick ratio of 1.68 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average price is $123.21 and its two-hundred day moving average price is $116.08.

M/I Homes (NYSE:MHO) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $4.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.82. M/I Homes had a return on equity of 20.26% and a net margin of 12.27%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Research analysts predict that M/I Homes will post 16.35 EPS for the current year.

Insider Buying and Selling

In related news, insider Ann Marie Hunker sold 2,461 shares of M/I Homes stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $128.51, for a total transaction of $316,263.11. Following the completion of the sale, the insider now owns 2,342 shares of the company’s stock, valued at $300,970.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MHO. Westfield Capital Management Co. LP acquired a new position in shares of M/I Homes during the 3rd quarter worth approximately $82,185,000. Pacer Advisors Inc. increased its position in shares of M/I Homes by 49.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,070,909 shares of the construction company’s stock worth $147,507,000 after purchasing an additional 354,182 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of M/I Homes during the fourth quarter worth approximately $25,385,000. Comerica Bank purchased a new stake in shares of M/I Homes during the third quarter worth approximately $9,554,000. Finally, American Century Companies Inc. increased its position in shares of M/I Homes by 27.0% during the third quarter. American Century Companies Inc. now owns 480,872 shares of the construction company’s stock worth $40,412,000 after purchasing an additional 102,358 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.