M/I Homes (NYSE:MHO) Downgraded by StockNews.com to Buy

StockNews.com cut shares of M/I Homes (NYSE:MHO) from a strong-buy rating to a buy rating in a research report released on Thursday.

Separately, Raymond James raised their target price on shares of M/I Homes from $200.00 to $210.00 and gave the stock a strong-buy rating in a research report on Friday, August 2nd.

M/I Homes Stock Down 1.5 %

M/I Homes stock opened at $169.58 on Thursday. M/I Homes has a fifty-two week low of $74.79 and a fifty-two week high of $173.86. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 9.76 and a beta of 2.23. The stock’s fifty day moving average is $155.23 and its two-hundred day moving average is $134.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 6.62.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $5.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.60 by $0.52. M/I Homes had a return on equity of 20.50% and a net margin of 12.67%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the firm posted $4.12 earnings per share. Analysts predict that M/I Homes will post 19.76 EPS for the current fiscal year.

Insider Buying and Selling at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 2,767 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $166.24, for a total transaction of $459,986.08. Following the sale, the chief financial officer now owns 18,545 shares in the company, valued at $3,082,920.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other M/I Homes news, CFO Phillip G. Creek sold 2,767 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $166.24, for a total value of $459,986.08. Following the transaction, the chief financial officer now owns 18,545 shares of the company’s stock, valued at $3,082,920.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert H. Schottenstein sold 2,089 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $166.12, for a total value of $347,024.68. Following the transaction, the chief executive officer now owns 122,951 shares of the company’s stock, valued at $20,424,620.12. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Institutional Trading of M/I Homes

Several institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new position in shares of M/I Homes in the second quarter worth approximately $1,551,000. Truist Financial Corp grew its position in M/I Homes by 1.4% during the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the construction company’s stock worth $760,000 after purchasing an additional 87 shares in the last quarter. Quarry LP grew its position in M/I Homes by 148.0% during the 2nd quarter. Quarry LP now owns 558 shares of the construction company’s stock worth $68,000 after purchasing an additional 333 shares in the last quarter. Invst LLC purchased a new stake in shares of M/I Homes in the second quarter valued at $331,000. Finally, Creative Planning boosted its position in shares of M/I Homes by 42.7% in the second quarter. Creative Planning now owns 4,159 shares of the construction company’s stock worth $508,000 after buying an additional 1,244 shares during the period. Institutional investors and hedge funds 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.