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

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

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

M/I Homes Price Performance

Shares of MHO stock opened at $155.59 on Friday. The company has a quick ratio of 1.76, a current ratio of 6.62 and a debt-to-equity ratio of 0.33. M/I Homes has a 12-month low of $74.79 and a 12-month high of $173.86. The firm has a fifty day moving average of $147.72 and a 200-day moving average of $132.01. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 8.95 and a beta of 2.23.

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

Insider Buying and Selling at M/I Homes

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

Institutional Trading of M/I Homes

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