M/I Homes (NYSE:MHO) Trading 4.5% Higher – Time to Buy?

M/I Homes, Inc. (NYSE:MHO)’s stock price traded up 4.5% on Friday . The company traded as high as $111.00 and last traded at $114.00. 90,827 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 286,723 shares. The stock had previously closed at $109.10.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MHO. Seaport Res Ptn upgraded shares of M/I Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. StockNews.com upgraded shares of M/I Homes from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $168.00 price objective (down previously from $210.00) on shares of M/I Homes in a research note on Thursday, January 30th.

M/I Homes Stock Up 4.5 %

The company has a quick ratio of 1.93, a current ratio of 7.65 and a debt-to-equity ratio of 0.33. The stock has a 50-day simple moving average of $118.94 and a two-hundred day simple moving average of $141.44. The firm has a market cap of $3.09 billion, a PE ratio of 5.78 and a beta of 1.99.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $4.71 earnings per share for the quarter, missing analysts’ consensus estimates of $4.96 by ($0.25). M/I Homes had a net margin of 12.51% and a return on equity of 20.20%. Analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current year.

Institutional Investors Weigh In On M/I Homes

Hedge funds have recently made changes to their positions in the business. Hennessy Advisors Inc. purchased a new position in M/I Homes in the 4th quarter worth $43,674,000. Millennium Management LLC increased its holdings in shares of M/I Homes by 85.5% in the fourth quarter. Millennium Management LLC now owns 238,826 shares of the construction company’s stock worth $31,752,000 after buying an additional 110,086 shares during the period. Royce & Associates LP lifted its stake in shares of M/I Homes by 42.5% in the 4th quarter. Royce & Associates LP now owns 274,871 shares of the construction company’s stock valued at $36,544,000 after acquiring an additional 81,964 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in M/I Homes during the 4th quarter valued at about $10,672,000. Finally, Voloridge Investment Management LLC increased its stake in M/I Homes by 3,243.7% in the 4th quarter. Voloridge Investment Management LLC now owns 75,535 shares of the construction company’s stock worth $10,042,000 after purchasing an additional 73,276 shares during the period. 95.14% of the stock is currently owned by institutional investors.

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.