Raymond James Lowers M/I Homes (NYSE:MHO) Price Target to $140.00

M/I Homes (NYSE:MHO - Free Report) had its target price decreased by Raymond James from $168.00 to $140.00 in a report released on Tuesday morning,Benzinga reports. Raymond James currently has a strong-buy rating on the construction company's stock.

MHO has been the subject of several other reports. Seaport Res Ptn upgraded shares of M/I Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. StockNews.com cut shares of M/I Homes from a "buy" rating to a "hold" rating in a research note on Friday, April 25th.

M/I Homes Price Performance

M/I Homes stock traded up $3.04 during mid-day trading on Tuesday, reaching $110.36. The company had a trading volume of 227,067 shares, compared to its average volume of 285,491. The stock's 50-day simple moving average is $112.36 and its 200-day simple moving average is $132.36. M/I Homes has a 1 year low of $100.22 and a 1 year high of $176.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 7.65 and a quick ratio of 1.93. The company has a market capitalization of $2.96 billion, a P/E ratio of 5.60 and a beta of 1.99.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The construction company reported $3.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by ($0.18). The firm had revenue of $976.09 million for the quarter, compared to analyst estimates of $1.12 billion. M/I Homes had a return on equity of 20.20% and a net margin of 12.51%. The business's revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.78 earnings per share. On average, equities analysts predict that M/I Homes will post 18.44 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. purchased a new stake in M/I Homes in the 4th quarter worth approximately $43,674,000. Millennium Management LLC boosted its holdings in shares of M/I Homes by 85.5% during the fourth quarter. Millennium Management LLC now owns 238,826 shares of the construction company's stock worth $31,752,000 after purchasing an additional 110,086 shares during the last quarter. GAMMA Investing LLC grew its position in shares of M/I Homes by 17,898.5% in the first quarter. GAMMA Investing LLC now owns 104,931 shares of the construction company's stock valued at $11,981,000 after purchasing an additional 104,348 shares during the period. Assenagon Asset Management S.A. increased its stake in M/I Homes by 81.7% in the first quarter. Assenagon Asset Management S.A. now owns 196,921 shares of the construction company's stock valued at $22,484,000 after purchasing an additional 88,545 shares during the last quarter. Finally, Royce & Associates LP lifted its position in M/I Homes by 42.5% during the fourth quarter. Royce & Associates LP now owns 274,871 shares of the construction company's stock worth $36,544,000 after buying an additional 81,964 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.