M/I Homes (NYSE:MHO) Stock Crosses Above 200 Day Moving Average – Should You Sell?

M/I Homes, Inc. (NYSE:MHO)’s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $137.68 and traded as high as $139.93. M/I Homes shares last traded at $138.2740, with a volume of 390,257 shares.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MHO. Weiss Ratings restated a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. New Street Research set a $172.00 target price on shares of M/I Homes in a report on Tuesday, August 4th. Freedom Broker cut their price target on shares of M/I Homes from $172.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Jefferies Financial Group set a $165.00 price objective on shares of M/I Homes in a research report on Thursday, October 8th. Finally, Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, M/I Homes presently has a consensus rating of “Moderate Buy” and an average target price of $164.40.

M/I Homes Trading Down 2.0%

The stock has a market capitalization of $3.29 billion, a P/E ratio of 10.79 and a beta of 1.67. The business’s fifty day simple moving average is $134.35 and its two-hundred day simple moving average is $137.65. The company has a current ratio of 7.54, a quick ratio of 1.44 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, October 21st. The construction company reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.25 by ($0.55). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.11 billion. M/I Homes had a net margin of 6.59% and a return on equity of 10.12%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.92 EPS. As a group, analysts forecast that M/I Homes, Inc. will post 10.76 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Phillip Creek sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $126.28, for a total transaction of $2,525,600.00. Following the completion of the sale, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at $3,904,325.04. This trade represents a 39.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On M/I Homes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MHO. BlackRock Inc. acquired a new position in M/I Homes during the second quarter valued at approximately $769,776,000. Donald Smith & CO. Inc. bought a new position in M/I Homes during the 2nd quarter worth about $223,736,000. Bank of America Corp DE acquired a new stake in M/I Homes in the 2nd quarter valued at approximately $31,561,000. Bank of New York Mellon Corp acquired a new stake in M/I Homes in the 2nd quarter valued at $30,032,000. Finally, Basswood Capital Management L.L.C. bought a new position in shares of M/I Homes in the 2nd quarter valued at about $21,926,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

About M/I Homes

M/I Homes, Inc is a residential construction company that builds and sells single-family homes for a range of buyers, including first-time, move-up and luxury-home purchasers. Its operations include land acquisition and development, home design, construction, marketing and sales, with communities offered in suburban and metropolitan markets.

The company also provides services that support the homebuying process, including mortgage financing through M/I Financial and title-related services through its affiliated operations.