M/I Homes (NYSE:MHO) Earns “Neutral” Rating from Wedbush

M/I Homes (NYSE:MHO)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a research report issued on Wednesday, RTT News reports. They presently have a $130.00 price objective on the construction company’s stock, up from their previous price objective of $116.00. Wedbush’s price target would suggest a potential upside of 6.19% from the company’s previous close.

Separately, StockNews.com upgraded M/I Homes from a “hold” rating to a “buy” rating in a research report on Monday, February 19th.

M/I Homes Stock Performance

Shares of MHO stock traded up $2.95 during mid-day trading on Wednesday, reaching $122.42. The stock had a trading volume of 452,638 shares, compared to its average volume of 271,368. The firm’s 50 day simple moving average is $123.29 and its 200 day simple moving average is $115.73. The company has a quick ratio of 1.68, a current ratio of 6.84 and a debt-to-equity ratio of 0.34. M/I Homes has a one year low of $63.39 and a one year high of $140.73. The firm has a market cap of $3.40 billion, a PE ratio of 7.54 and a beta of 2.13.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, January 31st. The construction company reported $3.66 EPS for the quarter, missing analysts’ consensus estimates of $4.94 by ($1.28). M/I Homes had a return on equity of 19.75% and a net margin of 11.54%. The firm had revenue of $972.59 million during the quarter, compared to the consensus estimate of $1.19 billion. On average, analysts forecast that M/I Homes will post 16.35 EPS for the current year.

Insider Activity at M/I Homes

In related news, insider Ann Marie Hunker sold 2,461 shares of the firm’s 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 completion of the sale, the insider now directly owns 2,342 shares of the company’s stock, valued at approximately $300,970.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On M/I Homes

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of M/I Homes by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 2,056,865 shares of the construction company’s stock valued at $283,313,000 after buying an additional 95,437 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of M/I Homes by 21.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,184,431 shares of the construction company’s stock valued at $163,144,000 after buying an additional 206,509 shares during the period. Pacer Advisors Inc. increased its stake in shares of M/I Homes by 49.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,070,909 shares of the construction company’s stock valued at $147,507,000 after buying an additional 354,182 shares during the period. American Century Companies Inc. increased its stake in shares of M/I Homes by 27.0% in the 3rd quarter. American Century Companies Inc. now owns 480,872 shares of the construction company’s stock valued at $40,412,000 after buying an additional 102,358 shares during the period. Finally, Invesco Ltd. increased its stake in shares of M/I Homes by 15.4% in the 3rd quarter. Invesco Ltd. now owns 427,281 shares of the construction company’s stock valued at $35,909,000 after buying an additional 57,162 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

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.