M/I Homes (NYSE:MHO) Stock Price Breaks Above 200 Day Moving Average – Here’s What Happened

M/I Homes, Inc. (NYSE:MHO)’s stock price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred 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.

Analyst Upgrades and Downgrades

Several research firms have commented on MHO. Jefferies Financial Group set a $165.00 price target on shares of M/I Homes in a research report on Thursday, October 8th. Zacks Research lowered shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 9th. Freedom Broker reduced their price target on M/I Homes from $172.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. New Street Research set a $172.00 price target on M/I Homes in a research note on Tuesday, August 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of M/I Homes in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, M/I Homes presently has an average rating of “Moderate Buy” and an average price target of $164.40.

M/I Homes Stock Performance

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

M/I Homes (NYSE:MHO) last posted its earnings results 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). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.11 billion. M/I Homes had a net margin of 6.59% and a return on equity of 10.12%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the business posted $3.92 EPS. As a group, research analysts anticipate that M/I Homes, Inc. will post 10.76 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Phillip Creek sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at approximately $3,904,325.04. The trade was a 39.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On M/I Homes

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in M/I Homes in the 2nd quarter valued at $769,776,000. Donald Smith & CO. Inc. acquired a new position in M/I Homes during the second quarter worth $223,736,000. Junto Capital Management LP raised its stake in shares of M/I Homes by 3.1% during the 2nd quarter. Junto Capital Management LP now owns 338,298 shares of the construction company’s stock worth $54,395,000 after buying an additional 10,047 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of M/I Homes in the second quarter valued at approximately $31,561,000. Finally, Bank of New York Mellon Corp purchased a new position in M/I Homes during the second quarter worth $30,032,000. 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 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.