M/I Homes (NYSE:MHO) Shares Gap Up - What's Next?

M/I Homes, Inc. (NYSE:MHO - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $114.28, but opened at $119.17. M/I Homes shares last traded at $120.99, with a volume of 27,081 shares trading hands.

Analyst Upgrades and Downgrades

MHO has been the topic of a number of recent research reports. Raymond James Financial cut their price objective on shares of M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 29th. Wall Street Zen downgraded M/I Homes from a "buy" rating to a "hold" rating in a report on Friday, April 25th.

M/I Homes Price Performance

The firm has a fifty day moving average of $111.68 and a 200 day moving average of $115.43. The company has a current ratio of 6.95, a quick ratio of 1.79 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.26 billion, a P/E ratio of 6.68 and a beta of 1.64.

M/I Homes (NYSE:MHO - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $4.42 earnings per share for the quarter, missing the consensus estimate of $4.43 by ($0.01). The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.12 billion. M/I Homes had a net margin of 11.40% and a return on equity of 17.23%. M/I Homes's revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities research analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current year.

Institutional Investors Weigh In On M/I Homes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp raised its position in M/I Homes by 38.3% in the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after acquiring an additional 105 shares during the period. Aster Capital Management DIFC Ltd bought a new position in M/I Homes in the 4th quarter worth $50,000. Covestor Ltd lifted its position in M/I Homes by 134.8% during the first quarter. Covestor Ltd now owns 655 shares of the construction company's stock valued at $75,000 after purchasing an additional 376 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of M/I Homes by 57.6% in the first quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock worth $105,000 after buying an additional 336 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of M/I Homes by 72.4% during the 4th quarter. National Bank of Canada FI now owns 855 shares of the construction company's stock valued at $114,000 after buying an additional 359 shares in 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, 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.