M/I Homes (NYSE:MHO) Upgraded at Zacks Research

Key Points

• Zacks Research has downgraded M/I Homes (NYSE:MHO) to a "strong sell" rating as of Tuesday.
• Despite this downgrade, other analysts maintain a mixed outlook with ratings ranging from a "sell" to a "strong buy", while the average price target for the stock is set at $162.50.
• M/I Homes reported earnings of $4.42 per share, slightly missing analysts' expectations, though revenue was up 4.8% year-over-year at $1.16 billion.

Zacks Research upgraded shares of M/I Homes (NYSE:MHO - Free Report) to a strong sell rating in a research report released on Tuesday, August 12th,Zacks.com reports.

MHO has been the topic of several other research reports. Raymond James Financial lowered their target price on M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen cut M/I Homes from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, Zelman & Associates raised M/I Homes from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $162.50.

M/I Homes Stock Down 2.2%

NYSE:MHO traded down $3.15 on Tuesday, hitting $139.97. 114,277 shares of the company's stock traded hands, compared to its average volume of 283,305. The company has a current ratio of 7.21, a quick ratio of 1.78 and a debt-to-equity ratio of 0.32. M/I Homes has a 1 year low of $100.22 and a 1 year high of $176.18. The firm has a 50-day moving average price of $119.94 and a 200-day moving average price of $115.10. The company has a market cap of $3.75 billion, a PE ratio of 7.69 and a beta of 1.60.

M/I Homes (NYSE:MHO - Get Free Report) last released its earnings results 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). M/I Homes had a net margin of 11.40% and a return on equity of 17.23%. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.12 billion. The firm's revenue was up 4.8% on a year-over-year basis. Equities analysts anticipate that M/I Homes will post 18.44 EPS for the current fiscal year.

Institutional Investors Weigh In On M/I Homes

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in M/I Homes by 2.6% during the first quarter. Principal Financial Group Inc. now owns 144,678 shares of the construction company's stock worth $16,519,000 after purchasing an additional 3,698 shares during the period. GAMMA Investing LLC lifted its holdings in shares of M/I Homes by 57.6% during 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 last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of M/I Homes by 17.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,205 shares of the construction company's stock worth $594,000 after buying an additional 763 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of M/I Homes by 44.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,707 shares of the construction company's stock worth $880,000 after buying an additional 2,363 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of M/I Homes by 38.3% during the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock worth $43,000 after buying an additional 105 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

About M/I Homes

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.