M/I Homes (NYSE:MHO) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• M/I Homes (NYSE:MHO) crossed above its 200-day moving average, trading as high as $150.44 and last changing hands near $146.91. The move came with volume of 177,360 shares.
• Analyst sentiment is mixed but slightly positive, with the stock carrying a Moderate Buy consensus and an average target price of $161.67. Recent rating changes included a boost to strong-buy from Freedom Capital, while Zelman & Associates cut its view to neutral.
• The company’s latest earnings missed expectations, reporting $2.55 EPS versus $2.64 expected and revenue of $920.71 million versus $1.18 billion forecast. Despite the miss, M/I Homes has solid liquidity and leverage metrics, and institutional investors own about 95.14% of the stock.

M/I Homes, Inc. (NYSE:MHO - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $135.95 and traded as high as $150.44. M/I Homes shares last traded at $146.9050, with a volume of 177,360 shares.

Wall Street Analyst Weigh In

MHO has been the topic of a number of research reports. Freedom Capital raised shares of M/I Homes to a "strong-buy" rating in a research note on Wednesday, June 24th. Seaport Research Partners reissued a "neutral" rating on shares of M/I Homes in a research report on Tuesday, April 7th. Weiss Ratings restated a "hold (c)" rating on shares of M/I Homes in a report on Friday, May 15th. Zelman & Associates cut shares of M/I Homes from an "outperform" rating to a "neutral" rating in a research report on Tuesday, July 7th. Finally, Zacks Research upgraded M/I Homes from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $161.67.

M/I Homes Trading Down 1.8%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.95 and a current ratio of 8.40. The business has a 50-day simple moving average of $142.28 and a two-hundred day simple moving average of $135.95. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 11.06 and a beta of 1.60.

M/I Homes (NYSE:MHO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $2.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.64 by ($0.09). The business had revenue of $920.71 million during the quarter, compared to analyst estimates of $1.18 billion. M/I Homes had a net margin of 8.24% and a return on equity of 12.91%. M/I Homes's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the business earned $3.98 earnings per share. As a group, research analysts forecast that M/I Homes, Inc. will post 12.6 EPS for the current year.

Institutional Investors Weigh In On M/I Homes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its holdings in M/I Homes by 107.5% during the fourth quarter. Millennium Management LLC now owns 434,484 shares of the construction company's stock worth $55,592,000 after acquiring an additional 225,120 shares in the last quarter. Invesco Ltd. grew its stake in M/I Homes by 116.4% in the third quarter. Invesco Ltd. now owns 300,912 shares of the construction company's stock valued at $43,464,000 after purchasing an additional 161,881 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of M/I Homes by 1,806.4% during the 4th quarter. Squarepoint Ops LLC now owns 114,134 shares of the construction company's stock worth $14,603,000 after purchasing an additional 108,147 shares during the last quarter. Gradient Investments LLC increased its position in shares of M/I Homes by 689.4% during the 4th quarter. Gradient Investments LLC now owns 114,773 shares of the construction company's stock worth $14,685,000 after purchasing an additional 100,233 shares during the last quarter. Finally, Donald Smith & CO. Inc. increased its position in shares of M/I Homes by 5.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company's stock worth $187,234,000 after purchasing an additional 82,090 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

About M/I Homes

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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