M/I Homes (NYSE:MHO) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

M/I Homes, Inc. (NYSE:MHO) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $137.68 and traded as high as $139.93. M/I Homes shares last traded at $138.2740, with a volume of 390,257 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on MHO. Citigroup restated a “market outperform” rating on shares of M/I Homes in a report on Thursday, October 8th. Jefferies Financial Group set a $165.00 target price on M/I Homes in a research note on Thursday, October 8th. Zacks Research cut M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a report on Wednesday, August 12th. Finally, New Street Research set a $172.00 price target on shares of M/I Homes in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, M/I Homes presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.40.

M/I Homes Stock Up 7.3%

The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 13.14 and a beta of 1.67. The stock’s 50 day moving average is $135.10 and its 200 day moving average is $137.68. The company has a quick ratio of 1.44, a current ratio of 7.54 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, October 21st. The construction company reported $2.70 earnings per share for the quarter, missing the consensus estimate of $3.25 by ($0.55). M/I Homes had a net margin of 6.59% and a return on equity of 10.12%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the company earned $3.92 EPS. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. Analysts forecast that M/I Homes, Inc. will post 10.76 EPS for the current year.

Insider Activity at M/I Homes

In other news, CFO Phillip Creek sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $126.28, for a total transaction of $2,525,600.00. Following the completion of the sale, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at $3,904,325.04. This trade represents a 39.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On M/I Homes

Several hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of M/I Homes in the second quarter valued at $26,000. Langley Wealth Management LLC acquired a new position in shares of M/I Homes in the second quarter worth $45,000. EverSource Wealth Advisors LLC grew its stake in shares of M/I Homes by 33.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 391 shares of the construction company’s stock valued at $48,000 after buying an additional 97 shares in the last quarter. Fulcrum Asset Management LLP lifted its stake in shares of M/I Homes by 2,310.0% in the 3rd quarter. Fulcrum Asset Management LLP now owns 482 shares of the construction company’s stock valued at $65,000 after purchasing an additional 462 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of M/I Homes by 133.7% in the second quarter. Versant Capital Management Inc now owns 409 shares of the construction company’s stock worth $66,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

About M/I Homes

M/I Homes, Inc is a residential construction company that builds and sells single-family homes for a range of buyers, including first-time, move-up and luxury-home purchasers. Its operations include land acquisition and development, home design, construction, marketing and sales, with communities offered in suburban and metropolitan markets.

The company also provides services that support the homebuying process, including mortgage financing through M/I Financial and title-related services through its affiliated operations.