M/I Homes (NYSE:MHO) Coverage Initiated at Raymond James

Analysts at Raymond James started coverage on shares of M/I Homes (NYSE:MHO) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set a “strong-buy” rating and a $200.00 price target on the construction company’s stock. Raymond James’ price objective would suggest a potential upside of 26.26% from the company’s current price.

Other equities research analysts have also issued research reports about the company. StockNews.com upgraded M/I Homes from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 26th. Wedbush reaffirmed a “neutral” rating and issued a $130.00 target price (up from $116.00) on shares of M/I Homes in a report on Wednesday, April 24th.

M/I Homes Stock Performance

NYSE:MHO opened at $158.40 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.99 and a current ratio of 6.91. The stock has a 50-day simple moving average of $128.09 and a two-hundred day simple moving average of $125.90. The firm has a market capitalization of $4.40 billion, a PE ratio of 9.11 and a beta of 2.23. M/I Homes has a 52-week low of $74.79 and a 52-week high of $161.79.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $4.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.82. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. M/I Homes had a return on equity of 20.26% and a net margin of 12.27%. Analysts forecast that M/I Homes will post 18.18 EPS for the current year.

Insider Activity at M/I Homes

In other news, CEO Robert H. Schottenstein sold 19,200 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $122.00, for a total transaction of $2,342,400.00. Following the transaction, the chief executive officer now owns 122,951 shares of the company’s stock, valued at approximately $15,000,022. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Voss Capital LLC purchased a new stake in M/I Homes during the fourth quarter worth $3,444,000. Vanguard Group Inc. lifted its holdings in shares of M/I Homes by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,961,428 shares of the construction company’s stock valued at $164,838,000 after buying an additional 43,417 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of M/I Homes in the first quarter worth about $4,281,000. Stratos Wealth Partners LTD. grew its holdings in M/I Homes by 143.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 26,284 shares of the construction company’s stock worth $3,620,000 after acquiring an additional 15,481 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of M/I Homes by 137.1% in the first quarter. Los Angeles Capital Management LLC now owns 12,021 shares of the construction company’s stock worth $1,638,000 after acquiring an additional 6,950 shares during the period. Hedge funds and other institutional investors 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.