M/I Homes (NYSE:MHO) Downgraded by StockNews.com to "Buy"

M/I Homes (NYSE:MHO - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a note issued to investors on Thursday.

Separately, Raymond James boosted their target price on M/I Homes from $200.00 to $210.00 and gave the company a "strong-buy" rating in a research note on Friday, August 2nd.

M/I Homes Stock Performance

M/I Homes stock traded down $1.37 during mid-day trading on Thursday, reaching $151.63. 278,621 shares of the company's stock were exchanged, compared to its average volume of 276,269. The business's fifty day simple moving average is $162.98 and its 200 day simple moving average is $142.08. The firm has a market capitalization of $4.21 billion, a PE ratio of 8.25 and a beta of 2.23. M/I Homes has a one year low of $81.38 and a one year high of $176.18. The company has a quick ratio of 1.76, a current ratio of 6.62 and a debt-to-equity ratio of 0.33.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $5.12 EPS for the quarter, topping analysts' consensus estimates of $4.60 by $0.52. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. M/I Homes had a return on equity of 20.50% and a net margin of 12.67%. During the same period last year, the company posted $4.12 earnings per share. On average, sell-side analysts expect that M/I Homes will post 19.76 earnings per share for the current year.

Hedge Funds Weigh In On M/I Homes

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of M/I Homes by 1.9% in the first quarter. Vanguard Group Inc. now owns 2,096,407 shares of the construction company's stock valued at $285,719,000 after purchasing an additional 39,542 shares in the last quarter. Westfield Capital Management Co. LP grew its position in shares of M/I Homes by 3.0% in the first quarter. Westfield Capital Management Co. LP now owns 1,219,989 shares of the construction company's stock valued at $166,272,000 after purchasing an additional 35,558 shares in the last quarter. American Century Companies Inc. grew its position in shares of M/I Homes by 7.7% in the second quarter. American Century Companies Inc. now owns 703,983 shares of the construction company's stock valued at $85,984,000 after purchasing an additional 50,330 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of M/I Homes by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 262,373 shares of the construction company's stock valued at $32,046,000 after purchasing an additional 13,782 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of M/I Homes by 260.3% in the third quarter. Assenagon Asset Management S.A. now owns 199,877 shares of the construction company's stock valued at $34,251,000 after purchasing an additional 144,406 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, 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.