M/I Homes (NYSE:MHO) Raised to Strong-Buy at Freedom Capital

M/I Homes (NYSE:MHO) was upgraded by Freedom Capital to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

MHO has been the topic of several other reports. Zacks Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Seaport Research Partners reiterated a “neutral” rating on shares of M/I Homes in a research report on Tuesday, April 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of M/I Homes in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, M/I Homes currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.67.

M/I Homes Stock Up 0.1%

NYSE MHO opened at $158.95 on Wednesday. The firm has a market cap of $4.07 billion, a PE ratio of 11.97 and a beta of 1.62. M/I Homes has a one year low of $108.92 and a one year high of $163.66. The stock’s 50 day simple moving average is $134.65 and its 200 day simple moving average is $133.39. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.40 and a quick ratio of 1.95.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.09). The company had revenue of $920.71 million during the quarter, compared to analyst estimates of $1.18 billion. M/I Homes had a net margin of 8.24% and a return on equity of 12.91%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.98 EPS. As a group, sell-side analysts forecast that M/I Homes will post 12.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MHO. Royal Bank of Canada boosted its stake in shares of M/I Homes by 46.3% during the 1st quarter. Royal Bank of Canada now owns 29,774 shares of the construction company’s stock worth $3,400,000 after buying an additional 9,422 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of M/I Homes by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company’s stock valued at $1,812,000 after acquiring an additional 703 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of M/I Homes in the first quarter valued at about $205,000. Strs Ohio acquired a new position in M/I Homes during the first quarter valued at approximately $114,000. Finally, EverSource Wealth Advisors LLC grew its stake in M/I Homes by 90.6% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

M/I Homes Company Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.