M/I Homes (MHO) Rating Lowered to Sell at Zacks Investment Research

M/I Homes (NYSE:MHO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “M/I Homes is one of nation’s leading builders of single family homes. M/I Homes have established an exemplary reputation based on a strong commitment to superior customer service, innovative design, quality construction and premium locations. M/I Homes serve a broad segment of the housing market including first-time, move-up, luxury and empty nester buyers. M/I Homes design, market, construct and sell single-family homes and attached townhomes to first-time, moveup, empty-nester and luxury buyers. The company have homebuilding operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Tampa, Orlando and Palm Beach County, Florida; Charlotte and Raleigh, North Carolina; Virginia and Maryland. “

MHO has been the subject of a number of other research reports. Wedbush set a $32.00 price target on shares of M/I Homes and gave the stock a “buy” rating in a research note on Thursday, October 25th. ValuEngine downgraded shares of M/I Homes from a “sell” rating to a “strong sell” rating in a report on Thursday, September 27th. Finally, JMP Securities set a $30.00 price objective on shares of M/I Homes and gave the stock a “buy” rating in a report on Monday, October 15th. Two research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $34.33.



Shares of NYSE:MHO opened at $23.01 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 5.54 and a quick ratio of 0.44. The firm has a market capitalization of $673.99 million, a P/E ratio of 7.99 and a beta of 1.07. M/I Homes has a 12-month low of $21.30 and a 12-month high of $37.41.

M/I Homes (NYSE:MHO) last issued its quarterly earnings results on Wednesday, October 24th. The construction company reported $1.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.03. The business had revenue of $567.80 million during the quarter, compared to analyst estimates of $552.54 million. M/I Homes had a net margin of 4.17% and a return on equity of 13.46%. The business’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Equities research analysts predict that M/I Homes will post 3.93 earnings per share for the current year.

M/I Homes declared that its board has approved a share repurchase program on Tuesday, August 14th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In other M/I Homes news, insider Phillip G. Creek sold 18,880 shares of M/I Homes stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $26.50, for a total value of $500,320.00. Following the completion of the transaction, the insider now owns 6,513 shares of the company’s stock, valued at $172,594.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert H. Schottenstein sold 13,143 shares of M/I Homes stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $26.31, for a total transaction of $345,792.33. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of M/I Homes by 5.3% during the second quarter. BlackRock Inc. now owns 4,303,019 shares of the construction company’s stock valued at $113,943,000 after acquiring an additional 216,879 shares during the period. Millennium Management LLC boosted its holdings in shares of M/I Homes by 8.6% during the second quarter. Millennium Management LLC now owns 1,504,794 shares of the construction company’s stock valued at $39,847,000 after acquiring an additional 119,034 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of M/I Homes by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 538,575 shares of the construction company’s stock valued at $14,262,000 after acquiring an additional 3,352 shares during the period. Royce & Associates LP boosted its holdings in shares of M/I Homes by 20.4% during the second quarter. Royce & Associates LP now owns 430,596 shares of the construction company’s stock valued at $11,402,000 after acquiring an additional 73,000 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of M/I Homes by 4.6% during the second quarter. Northern Trust Corp now owns 351,744 shares of the construction company’s stock valued at $9,314,000 after acquiring an additional 15,435 shares during the period. 93.45% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.

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