M/I Homes (NYSE:MHO) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded M/I Homes to a "Strong Sell" from "Hold," signaling increased analyst concern about the stock.
• The company reported quarterly EPS of $2.55 versus estimates of $2.64 and revenue of $920.7M versus $1.18B, with revenue down 5.8% year-over-year, indicating weaker-than-expected operating results.
• Senior insiders have been selling shares recently — including the CEO and CFO — with insiders offloading 44,213 shares worth about $6.44M in the last three months.

M/I Homes (NYSE:MHO - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

MHO has been the subject of a number of other reports. Citigroup reissued a "market outperform" rating on shares of M/I Homes in a research report on Friday, January 30th. Weiss Ratings reissued a "hold (c+)" rating on shares of M/I Homes in a research report on Thursday, January 22nd. Seaport Research Partners reissued a "neutral" rating on shares of M/I Homes in a research report on Tuesday, April 7th. Citizens Jmp initiated coverage on shares of M/I Homes in a research report on Wednesday, January 7th. They set a "market outperform" rating and a $165.00 target price for the company. Finally, Oppenheimer set a $165.00 target price on shares of M/I Homes in a research report on Friday, January 30th. One 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, the company currently has an average rating of "Moderate Buy" and an average price target of $161.67.

M/I Homes Stock Up 2.5%

M/I Homes stock opened at $131.72 on Tuesday. M/I Homes has a twelve month low of $103.52 and a twelve month high of $158.92. The firm has a 50 day moving average price of $128.82 and a 200-day moving average price of $132.00. The company has a market capitalization of $3.37 billion, a P/E ratio of 9.92 and a beta of 1.65. 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 (NYSE:MHO - Get Free Report) last released its earnings results on Wednesday, April 22nd. The construction company reported $2.55 earnings per share for the quarter, missing analysts' consensus estimates of $2.64 by ($0.09). M/I Homes had a net margin of 8.24% and a return on equity of 12.91%. The company had revenue of $920.71 million for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company earned $3.98 earnings per share. The firm's revenue was down 5.8% on a year-over-year basis. As a group, equities analysts predict that M/I Homes will post 12.6 EPS for the current year.

Insiders Place Their Bets

In other M/I Homes news, CFO Phillip G. Creek sold 8,616 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $1,264,828.80. Following the sale, the chief financial officer directly owned 45,815 shares in the company, valued at $6,725,642. This represents a 15.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert H. Schottenstein sold 14,974 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $2,198,183.20. Following the completion of the sale, the chief executive officer owned 348,513 shares in the company, valued at $51,161,708.40. This represents a 4.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 44,213 shares of company stock worth $6,443,868 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of M/I Homes

Several institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC lifted its stake in M/I Homes by 0.5% in the 4th quarter. Intech Investment Management LLC now owns 14,883 shares of the construction company's stock worth $1,904,000 after purchasing an additional 72 shares in the last quarter. Corient Private Wealth LLC lifted its stake in M/I Homes by 2.0% in the 4th quarter. Corient Private Wealth LLC now owns 3,891 shares of the construction company's stock worth $498,000 after purchasing an additional 76 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in M/I Homes by 73.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company's stock worth $30,000 after purchasing an additional 87 shares in the last quarter. WealthCollab LLC lifted its stake in 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 purchasing an additional 87 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in M/I Homes by 3.0% in 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. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.

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