M/I Homes (NYSE:MHO) Upgraded by Freedom Capital to “Strong-Buy” Rating

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

Several other analysts have also recently commented on the company. Zacks Research cut M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Seaport Research Partners restated a “neutral” rating on shares of M/I Homes in a report on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research note on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $161.67.

M/I Homes Stock Performance

Shares of NYSE MHO opened at $158.95 on Wednesday. The stock’s fifty day simple moving average is $134.65 and its 200 day simple moving average is $133.39. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 11.97 and a beta of 1.62. The company has a quick ratio of 1.95, a current ratio of 8.40 and a debt-to-equity ratio of 0.30. M/I Homes has a 52-week low of $108.92 and a 52-week high of $163.66.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, April 22nd. The construction company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.09). The company had revenue of $920.71 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.98 earnings per share. As a group, sell-side analysts forecast that M/I Homes will post 12.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On M/I Homes

A number of institutional investors have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new stake in M/I Homes in the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its holdings in M/I Homes by 90.6% during 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. Aster Capital Management DIFC Ltd bought a new stake in shares of M/I Homes in the 4th quarter valued at approximately $49,000. Caitong International Asset Management Co. Ltd grew its stake in shares of M/I Homes by 1,090.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 500 shares of the construction company’s stock valued at $64,000 after purchasing an additional 458 shares during the period. Finally, WealthCollab LLC raised its holdings in shares of M/I Homes by 16.5% in the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock worth $69,000 after buying an additional 87 shares in the last quarter. 95.14% of the stock is 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.