M/I Homes (NYSE:MHO) Reaches New 1-Year High – Should You Buy?

M/I Homes, Inc. (NYSE:MHO)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $159.98 and last traded at $160.1950, with a volume of 70485 shares trading hands. The stock had previously closed at $148.65.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of M/I Homes in a research note on Friday, May 15th. Zacks Research cut shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Finally, Seaport Research Partners reaffirmed a “neutral” rating on shares of M/I Homes in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

M/I Homes Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 8.40 and a quick ratio of 1.95. The stock has a market capitalization of $4.11 billion, a P/E ratio of 12.09 and a beta of 1.62. The company has a fifty day moving average of $133.25 and a two-hundred day moving average of $133.04.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, April 22nd. The construction company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.09). The firm had revenue of $920.71 million for 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 business’s revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.98 earnings per share. On average, equities analysts anticipate that M/I Homes, Inc. will post 12.6 EPS for the current year.

Hedge Funds Weigh In On M/I Homes

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of M/I Homes by 26.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 266,582 shares of the construction company’s stock worth $38,505,000 after buying an additional 55,206 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of M/I Homes by 83.2% in the third quarter. Rafferty Asset Management LLC now owns 39,831 shares of the construction company’s stock worth $5,753,000 after buying an additional 18,095 shares during the period. Capelight Capital Asset Management LP purchased a new position in M/I Homes during the 4th quarter worth approximately $7,037,000. Segall Bryant & Hamill LLC acquired a new position in M/I Homes during the third quarter valued at $3,401,000. Finally, American Century Companies Inc. lifted its position in shares of M/I Homes by 10.9% in the third quarter. American Century Companies Inc. now owns 936,597 shares of the construction company’s stock worth $135,282,000 after purchasing an additional 91,732 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.