M/I Homes, Inc. (NYSE:MHO) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of M/I Homes, Inc. (NYSE:MHO) from a hold rating to a buy rating in a report released on Saturday. The brokerage currently has $29.00 price target on the construction company’s stock.
According to Zacks, “M/I Homes, Inc. is one of the nation’s leading builders of single-family homes. Their homes are marketed and sold under the trade names M/I Homes and Showcase Homes. They have homebuilding operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Tampa, Orlando and Palm Beach County, Florida; Charlotte and Raleigh, North Carolina; Virginia and Maryland. “
MHO has been the topic of several other reports. Wedbush restated an outperform rating and issued a $27.00 price objective on shares of M/I Homes in a report on Wednesday, April 26th. BidaskClub lowered shares of M/I Homes from a buy rating to a hold rating in a report on Saturday, July 8th. Finally, ValuEngine lowered shares of M/I Homes from a strong-buy rating to a buy rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $31.00.
Shares of M/I Homes (NYSE:MHO) opened at 26.30 on Friday. The company has a 50-day moving average of $27.59 and a 200-day moving average of $26.13. The stock has a market capitalization of $660.26 million, a price-to-earnings ratio of 12.41 and a beta of 1.11. M/I Homes has a 52-week low of $20.40 and a 52-week high of $29.42.
M/I Homes (NYSE:MHO) last issued its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.68 by $0.05. M/I Homes had a net margin of 3.57% and a return on equity of 12.74%. The firm had revenue of $456.87 million for the quarter, compared to analyst estimates of $456.56 million. During the same period in the prior year, the business posted $0.52 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities research analysts anticipate that M/I Homes will post $2.99 EPS for the current year.
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In other news, VP J Thomas Mason sold 27,594 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $28.42, for a total value of $784,221.48. Following the transaction, the vice president now directly owns 19,594 shares in the company, valued at approximately $556,861.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of M/I Homes during the first quarter valued at $104,000. Bank of Montreal Can increased its stake in shares of M/I Homes by 111.8% in the second quarter. Bank of Montreal Can now owns 4,815 shares of the construction company’s stock valued at $137,000 after buying an additional 2,542 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of M/I Homes by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 4,894 shares of the construction company’s stock valued at $139,000 after buying an additional 2,164 shares during the last quarter. Mason Street Advisors LLC increased its stake in shares of M/I Homes by 7.4% in the first quarter. Mason Street Advisors LLC now owns 5,790 shares of the construction company’s stock valued at $142,000 after buying an additional 399 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of M/I Homes during the first quarter valued at $156,000.
M/I Homes Company Profile
M/I Homes, Inc is a builder of single-family homes. The Company consists of two operations: homebuilding and financial services. It operates through Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations segments. The Company and its subsidiaries are engaged primarily in the construction and sale of single-family residential homes in 15 markets: Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.
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