M/I Homes (NYSE:MHO) Hits New 52-Week High – What’s Next?

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

Wall Street Analysts Forecast Growth

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

M/I Homes Stock Up 8.1%

The business’s fifty day moving average price is $133.25 and its 200 day moving average price is $133.04. The company has a current ratio of 8.40, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 12.09 and a beta of 1.62.

M/I Homes (NYSE:MHO) last announced its earnings results 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). M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.The business had revenue of $920.71 million for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the company posted $3.98 EPS. M/I Homes’s quarterly revenue was down 5.8% on a year-over-year basis. On average, equities analysts expect that M/I Homes, Inc. will post 12.6 EPS for the current year.

Institutional Investors Weigh In On M/I Homes

Institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its holdings in M/I Homes by 0.5% in the fourth quarter. Intech Investment Management LLC now owns 14,883 shares of the construction company’s stock valued at $1,904,000 after purchasing an additional 72 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of M/I Homes by 2.0% in the fourth quarter. Corient Private Wealth LLC now owns 3,891 shares of the construction company’s stock valued at $498,000 after purchasing an additional 76 shares during the last quarter. WealthCollab LLC increased its stake in shares of M/I Homes by 16.5% during the 2nd quarter. WealthCollab LLC now owns 614 shares of the construction company’s stock worth $69,000 after purchasing an additional 87 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of M/I Homes by 3.0% during the 3rd quarter. Private Advisor Group LLC now owns 3,027 shares of the construction company’s stock worth $437,000 after purchasing an additional 89 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of M/I Homes by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 14,839 shares of the construction company’s stock worth $1,897,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other 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.