M/I Homes (NYSE:MHO) Stock Rating Upgraded by StockNews.com

M/I Homes (NYSE:MHO) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

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

M/I Homes Stock Performance

NYSE:MHO traded down $0.22 during trading hours on Friday, reaching $120.07. 334,055 shares of the stock were exchanged, compared to its average volume of 273,687. The company has a quick ratio of 1.68, a current ratio of 6.51 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $123.21 and a 200-day simple moving average of $116.08. The stock has a market capitalization of $3.33 billion, a P/E ratio of 6.91 and a beta of 2.13. M/I Homes has a 52 week low of $64.28 and a 52 week high of $140.73.

M/I Homes (NYSE:MHO) last announced its quarterly 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. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. M/I Homes had a return on equity of 20.26% and a net margin of 12.27%. As a group, sell-side analysts forecast that M/I Homes will post 16.35 earnings per share for the current fiscal year.

Insider Transactions at M/I Homes

In other 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of M/I Homes

A number of institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in M/I Homes by 7.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,245 shares of the construction company’s stock valued at $171,000 after purchasing an additional 84 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in M/I Homes by 1.1% during the fourth quarter. SummerHaven Investment Management LLC now owns 8,198 shares of the construction company’s stock valued at $1,129,000 after purchasing an additional 88 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in M/I Homes by 28.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 500 shares of the construction company’s stock valued at $69,000 after purchasing an additional 110 shares during the last quarter. USA Financial Formulas boosted its position in M/I Homes by 578.1% during the fourth quarter. USA Financial Formulas now owns 217 shares of the construction company’s stock valued at $30,000 after purchasing an additional 185 shares during the last quarter. Finally, Strs Ohio boosted its position in M/I Homes by 200.0% during the third quarter. Strs Ohio now owns 300 shares of the construction company’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

About M/I Homes

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.