M/I Homes, Inc. (MHO) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of M/I Homes, Inc. (NYSE:MHO) from a buy rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “M/I Homes, Inc. is one of the nation’s leading builders of single-family homes. Their homes are marketed and sold under the trade names M/I Homes and Showcase Homes. They have homebuilding operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Tampa, Orlando and Palm Beach County, Florida; Charlotte and Raleigh, North Carolina; Virginia and Maryland. “

A number of other research analysts also recently issued reports on MHO. BidaskClub upgraded shares of M/I Homes from a strong sell rating to a sell rating in a research report on Thursday, August 17th. ValuEngine downgraded shares of M/I Homes from a strong-buy rating to a buy rating in a research report on Friday, July 28th. Finally, JMP Securities upgraded shares of M/I Homes from a market perform rating to an outperform rating and set a $32.00 target price on the stock in a research report on Monday, July 31st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $34.00.

Shares of M/I Homes (NYSE MHO) traded up 3.13% during trading on Wednesday, hitting $31.31. 311,606 shares of the stock traded hands. M/I Homes has a 1-year low of $20.40 and a 1-year high of $31.77. The company has a market cap of $786.01 million, a PE ratio of 14.81 and a beta of 1.09. The company has a 50 day moving average of $26.79 and a 200-day moving average of $26.88.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, October 25th. The construction company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). M/I Homes had a net margin of 3.57% and a return on equity of 12.99%. The business had revenue of $476.40 million for the quarter, compared to analyst estimates of $475.42 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that M/I Homes will post $2.93 EPS for the current fiscal year.

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Several hedge funds have recently made changes to their positions in MHO. SG Americas Securities LLC bought a new stake in shares of M/I Homes in the 1st quarter valued at about $104,000. Bank of Montreal Can increased its stake in shares of M/I Homes by 111.8% in the 2nd quarter. Bank of Montreal Can now owns 4,815 shares of the construction company’s stock valued at $137,000 after acquiring an additional 2,542 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of M/I Homes by 79.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,894 shares of the construction company’s stock valued at $139,000 after acquiring an additional 2,164 shares during the last quarter. Mason Street Advisors LLC increased its stake in shares of M/I Homes by 7.4% in the 1st quarter. Mason Street Advisors LLC now owns 5,790 shares of the construction company’s stock valued at $142,000 after acquiring an additional 399 shares during the last quarter. Finally, Neuberger Berman Group LLC bought a new stake in shares of M/I Homes in the 2nd quarter valued at about $201,000.

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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