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

StockNews.com upgraded shares of M/I Homes (NYSE:MHO) from a buy rating to a strong-buy rating in a research note published on Friday.

Separately, Wedbush reiterated a neutral rating and issued a $130.00 price target (up previously from $116.00) on shares of M/I Homes in a research note on Wednesday, April 24th.

M/I Homes Stock Performance

Shares of NYSE MHO opened at $121.22 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.86 and a current ratio of 6.51. The stock has a 50 day moving average price of $123.25 and a 200 day moving average price of $116.84. The stock has a market capitalization of $3.37 billion, a PE ratio of 6.97 and a beta of 2.13. M/I Homes has a 52 week low of $65.42 and a 52 week high of $140.73.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $4.78 earnings per share (EPS) 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Analysts predict that M/I Homes will post 18.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ann Marie Hunker sold 2,461 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $128.51, for a total value of $316,263.11. Following the completion of the sale, the insider now directly owns 2,342 shares of the company’s stock, valued at $300,970.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Susan E. Krohne sold 9,000 shares of M/I Homes stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $122.00, for a total transaction of $1,098,000.00. Following the completion of the sale, the insider now owns 3,609 shares of the company’s stock, valued at approximately $440,298. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ann Marie Hunker sold 2,461 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $128.51, for a total transaction of $316,263.11. Following the completion of the transaction, the insider now directly owns 2,342 shares in the company, valued at $300,970.42. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On M/I Homes

Institutional investors have recently made changes to their positions in the company. Westfield Capital Management Co. LP acquired a new stake in M/I Homes during the 3rd quarter worth approximately $82,185,000. Pacer Advisors Inc. grew its stake in shares of M/I Homes by 49.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,070,909 shares of the construction company’s stock valued at $147,507,000 after acquiring an additional 354,182 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in M/I Homes during the fourth quarter worth about $25,385,000. Comerica Bank acquired a new stake in M/I Homes in the 3rd quarter worth about $9,554,000. Finally, American Century Companies Inc. raised its stake in M/I Homes by 27.0% in the 3rd 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. Institutional investors own 95.14% of the company’s stock.

About M/I Homes

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.