M/I Homes (NYSE:MHO) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of M/I Homes from a “hold” rating to a “sell” rating in a research note on Tuesday, October 30th. JMP Securities set a $30.00 price objective on shares of M/I Homes and gave the company a “buy” rating in a research note on Monday, October 15th. Finally, Wedbush set a $32.00 price objective on shares of M/I Homes and gave the company a “buy” rating in a research note on Thursday, October 25th. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $34.33.

Shares of MHO stock opened at $23.75 on Thursday. M/I Homes has a 52-week low of $21.30 and a 52-week high of $37.41. The firm has a market capitalization of $651.74 million, a PE ratio of 6.43 and a beta of 0.94. The company has a quick ratio of 0.50, a current ratio of 6.23 and a debt-to-equity ratio of 1.05.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, October 24th. The construction company reported $1.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.03. M/I Homes had a net margin of 4.17% and a return on equity of 13.46%. The company had revenue of $567.80 million during the quarter, compared to analysts’ expectations of $552.54 million. During the same quarter in the prior year, the company posted $0.71 EPS. The business’s revenue was up 19.2% on a year-over-year basis. As a group, equities research analysts forecast that M/I Homes will post 3.97 earnings per share for the current year.

M/I Homes declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 14th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Several institutional investors and hedge funds have recently bought and sold shares of the company. IndexIQ Advisors LLC grew its holdings in shares of M/I Homes by 3.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 71,373 shares of the construction company’s stock worth $1,708,000 after purchasing an additional 2,697 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of M/I Homes by 6.7% in the 3rd quarter. Wells Fargo & Company MN now owns 44,683 shares of the construction company’s stock worth $1,070,000 after purchasing an additional 2,794 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of M/I Homes by 39.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 10,700 shares of the construction company’s stock worth $256,000 after purchasing an additional 3,000 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of M/I Homes by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 538,575 shares of the construction company’s stock worth $14,262,000 after purchasing an additional 3,352 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in shares of M/I Homes by 10.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 43,339 shares of the construction company’s stock worth $1,148,000 after purchasing an additional 4,006 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.

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