M/I Homes (MHO) Upgraded to “Strong-Buy” by ValuEngine

ValuEngine upgraded shares of M/I Homes (NYSE:MHO) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday morning.

Several other analysts have also recently commented on the company. Zacks Investment Research raised M/I Homes from a hold rating to a buy rating and set a $32.00 target price for the company in a research report on Tuesday, October 24th. JMP Securities set a $38.00 target price on M/I Homes and gave the stock a buy rating in a research report on Thursday, October 26th. TheStreet cut M/I Homes from a b- rating to a c+ rating in a research report on Thursday. Finally, Wedbush raised their target price on M/I Homes from $35.00 to $41.00 and gave the stock an outperform rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $37.00.

Shares of M/I Homes (NYSE MHO) traded up $0.02 during midday trading on Friday, hitting $34.40. The company had a trading volume of 131,300 shares, compared to its average volume of 233,724. The company has a quick ratio of 0.87, a current ratio of 6.46 and a debt-to-equity ratio of 1.00. The firm has a market cap of $946.71, a PE ratio of 14.27 and a beta of 1.31. M/I Homes has a twelve month low of $22.55 and a twelve month high of $36.92.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, October 25th. The construction company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). The business had revenue of $476.40 million during the quarter, compared to analyst estimates of $475.42 million. M/I Homes had a return on equity of 12.31% and a net margin of 4.00%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. sell-side analysts expect that M/I Homes will post 2.76 EPS for the current year.

In related news, insider Phillip G. Creek sold 25,400 shares of M/I Homes stock in a transaction on Monday, October 30th. The stock was sold at an average price of $32.08, for a total transaction of $814,832.00. Following the completion of the sale, the insider now owns 60,971 shares of the company’s stock, valued at $1,955,949.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert H. Schottenstein sold 15,800 shares of M/I Homes stock in a transaction on Monday, October 30th. The shares were sold at an average price of $31.90, for a total value of $504,020.00. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its position in M/I Homes by 111.8% during the second quarter. Bank of Montreal Can now owns 4,815 shares of the construction company’s stock valued at $137,000 after purchasing an additional 2,542 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in M/I Homes during the third quarter valued at $177,000. Neuberger Berman Group LLC acquired a new stake in shares of M/I Homes in the second quarter worth about $201,000. Magnetar Financial LLC acquired a new stake in shares of M/I Homes in the third quarter worth about $205,000. Finally, Cim Investment Mangement Inc. acquired a new stake in shares of M/I Homes in the second quarter worth about $213,000. 95.91% of the stock is owned by hedge funds and other institutional investors.

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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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