M/I Homes (NYSE:MHO) Raised to "Strong Sell" 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.

A number of other analysts have also issued reports on the company. Wall Street Zen lowered M/I Homes from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Zelman & Associates raised M/I Homes from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 12th. Finally, Raymond James Financial lowered their price target 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. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, M/I Homes currently has an average rating of "Buy" and an average price target of $162.50.

M/I Homes Stock Performance

MHO traded up $1.4530 during midday trading on Tuesday, reaching $143.2730. The company's stock had a trading volume of 179,599 shares, compared to its average volume of 284,407. The stock has a market cap of $3.84 billion, a P/E ratio of 7.87 and a beta of 1.60. The company has a fifty day simple moving average of $119.32 and a 200 day simple moving average of $114.90. 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 twelve month low of $100.22 and a twelve month high of $176.18.

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 (EPS) for the quarter, missing analysts' consensus estimates of $4.43 by ($0.01). The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.12 billion. M/I Homes had a net margin of 11.40% and a return on equity of 17.23%. The firm's quarterly revenue was up 4.8% on a year-over-year basis. Research analysts expect that M/I Homes will post 18.44 earnings per share for the current year.

Institutional Trading of M/I Homes

Several institutional investors have recently bought and sold shares of the stock. State of Wyoming boosted its stake in M/I Homes by 199.7% in the 2nd quarter. State of Wyoming now owns 3,399 shares of the construction company's stock valued at $381,000 after buying an additional 2,265 shares in the last quarter. Kestra Investment Management LLC boosted its stake in M/I Homes by 1,146.9% in the 2nd quarter. Kestra Investment Management LLC now owns 1,010 shares of the construction company's stock valued at $113,000 after buying an additional 929 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in M/I Homes by 3.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 101,131 shares of the construction company's stock valued at $11,339,000 after buying an additional 3,227 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in M/I Homes by 13.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,643 shares of the construction company's stock valued at $633,000 after buying an additional 684 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in M/I Homes by 506.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,652 shares of the construction company's stock valued at $409,000 after buying an additional 3,050 shares in the last quarter. Institutional investors and hedge funds 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.