M/I Homes (NYSE:MHO) Upgraded by StockNews.com to “Strong-Buy”

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

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

M/I Homes Stock Performance

NYSE:MHO opened at $120.07 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.68 and a current ratio of 6.51. The stock’s fifty day moving average is $123.21 and its 200 day moving average is $116.08. M/I Homes has a fifty-two week low of $64.28 and a fifty-two week high of $140.73. The firm has a market capitalization of $3.33 billion, a PE ratio of 6.91 and a beta of 2.13.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, April 24th. The construction company reported $4.78 earnings per share 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 business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. On average, sell-side analysts anticipate that M/I Homes will post 16.35 earnings per share for the current year.

Insider Transactions at M/I Homes

In other news, insider Ann Marie Hunker sold 2,461 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $128.51, for a total transaction of $316,263.11. Following the transaction, the insider now owns 2,342 shares of the company’s stock, valued at approximately $300,970.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On M/I Homes

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in M/I Homes by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 2,056,865 shares of the construction company’s stock valued at $283,313,000 after purchasing an additional 95,437 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in M/I Homes by 21.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,184,431 shares of the construction company’s stock valued at $163,144,000 after purchasing an additional 206,509 shares in the last quarter. Pacer Advisors Inc. boosted its position in M/I Homes by 49.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,070,909 shares of the construction company’s stock valued at $147,507,000 after purchasing an additional 354,182 shares in the last quarter. American Century Companies Inc. boosted its position in M/I Homes by 27.0% during the third quarter. American Century Companies Inc. now owns 480,872 shares of the construction company’s stock valued at $40,412,000 after purchasing an additional 102,358 shares in the last quarter. Finally, Invesco Ltd. boosted its position in M/I Homes by 15.4% during the third quarter. Invesco Ltd. now owns 427,281 shares of the construction company’s stock valued at $35,909,000 after purchasing an additional 57,162 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

M/I Homes Company Profile

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.