M/I Homes (NYSE:MHO) Stock Rating Upgraded by Freedom Capital

M/I Homes (NYSE:MHO) was upgraded by Freedom Capital to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Seaport Research Partners reaffirmed a “neutral” rating on shares of M/I Homes in a report on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $161.67.

M/I Homes Price Performance

M/I Homes stock opened at $158.95 on Wednesday. The business’s 50 day simple moving average is $134.65 and its 200 day simple moving average is $133.39. M/I Homes has a 12 month low of $108.92 and a 12 month high of $163.66. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 11.97 and a beta of 1.62. The company has a current ratio of 8.40, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30.

M/I Homes (NYSE:MHO) last released its earnings results 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 firm had revenue of $920.71 million during the quarter, compared to analysts’ expectations of $1.18 billion. M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.The business’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.98 earnings per share. Sell-side analysts forecast that M/I Homes will post 12.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Junto Capital Management LP purchased a new position in shares of M/I Homes during the 3rd quarter valued at $35,871,000. Millennium Management LLC raised its stake in M/I Homes by 107.5% in the fourth quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock valued at $55,592,000 after purchasing an additional 225,120 shares in the last quarter. Invesco Ltd. lifted its position in M/I Homes by 116.4% during 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 during the last quarter. Squarepoint Ops LLC lifted its position in M/I Homes by 1,806.4% during the fourth quarter. Squarepoint Ops LLC now owns 114,134 shares of the construction company’s stock valued at $14,603,000 after purchasing an additional 108,147 shares during the last quarter. Finally, Gradient Investments LLC grew its stake in M/I Homes by 689.4% in the 4th quarter. Gradient Investments LLC now owns 114,773 shares of the construction company’s stock worth $14,685,000 after buying an additional 100,233 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.