M/I Homes (NYSE:MHO) Receives Strong-Buy Rating from Raymond James

Raymond James reissued their strong-buy rating on shares of M/I Homes (NYSE:MHO - Free Report) in a report published on Thursday morning,Benzinga reports. Raymond James currently has a $168.00 price objective on the construction company's stock, down from their previous price objective of $210.00.

Several other equities analysts also recently issued reports on MHO. Wedbush raised shares of M/I Homes from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $155.00 to $185.00 in a research note on Monday, November 4th. StockNews.com lowered M/I Homes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, October 31st.

M/I Homes Price Performance

MHO traded down $4.68 during midday trading on Thursday, reaching $121.12. 206,795 shares of the company's stock were exchanged, compared to its average volume of 320,168. M/I Homes has a 1-year low of $109.92 and a 1-year high of $176.18. The stock has a market capitalization of $3.36 billion, a PE ratio of 6.13 and a beta of 2.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 7.32 and a quick ratio of 1.93. The business's 50-day moving average price is $142.70 and its 200 day moving average price is $153.19.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The construction company reported $4.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.96 by ($0.25). M/I Homes had a return on equity of 20.20% and a net margin of 12.51%. As a group, equities analysts anticipate that M/I Homes will post 18.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Phillip G. Creek sold 20,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $160.00, for a total value of $3,200,000.00. Following the transaction, the chief financial officer now directly owns 18,545 shares in the company, valued at $2,967,200. This trade represents a 51.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.70% of the company's stock.

Institutional Trading of M/I Homes

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Westfield Capital Management Co. LP grew its stake in M/I Homes by 3.7% during the third quarter. Westfield Capital Management Co. LP now owns 1,107,024 shares of the construction company's stock worth $189,700,000 after buying an additional 39,492 shares during the period. Geode Capital Management LLC lifted its holdings in shares of M/I Homes by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 723,797 shares of the construction company's stock valued at $124,050,000 after acquiring an additional 21,575 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in M/I Homes by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 462,081 shares of the construction company's stock worth $79,182,000 after purchasing an additional 19,754 shares during the period. Hennessy Advisors Inc. acquired a new stake in M/I Homes in the 4th quarter valued at $43,674,000. Finally, Basswood Capital Management L.L.C. raised its position in M/I Homes by 1.8% in the third quarter. Basswood Capital Management L.L.C. now owns 314,634 shares of the construction company's stock valued at $53,916,000 after purchasing an additional 5,571 shares during the period. 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.