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

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

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

M/I Homes Stock Up 0.3 %

NYSE:MHO opened at $167.23 on Thursday. The stock’s fifty day moving average price is $153.79 and its two-hundred day moving average price is $133.80. M/I Homes has a 52-week low of $74.79 and a 52-week high of $173.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 6.62. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 9.62 and a beta of 2.23.

M/I Homes (NYSE:MHO) last issued its earnings results on Tuesday, July 30th. The construction company reported $5.12 EPS for the quarter, beating the consensus estimate of $4.60 by $0.52. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. M/I Homes had a net margin of 12.67% and a return on equity of 20.50%. During the same quarter in the previous year, the company posted $4.12 EPS. On average, analysts anticipate that M/I Homes will post 19.76 EPS for the current year.

Insider Buying and Selling at M/I Homes

In related news, CEO Robert H. Schottenstein sold 2,089 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $166.12, for a total value of $347,024.68. Following the completion of the sale, the chief executive officer now owns 122,951 shares in the company, valued at approximately $20,424,620.12. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Robert H. Schottenstein sold 2,089 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $166.12, for a total value of $347,024.68. Following the completion of the sale, the chief executive officer now owns 122,951 shares in the company, valued at approximately $20,424,620.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Phillip G. Creek sold 2,767 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $166.24, for a total transaction of $459,986.08. Following the completion of the sale, the chief financial officer now owns 18,545 shares of the company’s stock, valued at approximately $3,082,920.80. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On M/I Homes

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in M/I Homes by 42.8% during the 2nd quarter. Signaturefd LLC now owns 237 shares of the construction company’s stock worth $29,000 after purchasing an additional 71 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in M/I Homes by 28.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 500 shares of the construction company’s stock worth $69,000 after purchasing an additional 110 shares in the last quarter. Hollencrest Capital Management bought a new position in M/I Homes during the 1st quarter worth about $68,000. CWM LLC increased its holdings in M/I Homes by 184.8% during the 2nd quarter. CWM LLC now owns 507 shares of the construction company’s stock worth $62,000 after purchasing an additional 329 shares in the last quarter. Finally, Quarry LP increased its holdings 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. 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.