M/I Homes, Inc. (MHO) Lifted to “Buy” at Zacks Investment Research
M/I Homes, Inc. (NYSE:MHO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $27.00 target price on the construction company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 9.53% from the stock’s current price.
According to Zacks, “M/I Homes, Inc. is one of the nation’s leading builders of single-family homes. Their homes are marketed and sold under the trade names M/I Homes and Showcase Homes. They 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 topic of a number of other research reports. BidaskClub cut M/I Homes from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. ValuEngine cut M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, JMP Securities raised M/I Homes from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a research note on Monday, July 31st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $30.33.
M/I Homes (NYSE MHO) traded up 0.94% during midday trading on Friday, hitting $24.65. The company had a trading volume of 176,503 shares. M/I Homes has a 52 week low of $20.40 and a 52 week high of $29.42. The firm’s 50 day moving average is $25.45 and its 200-day moving average is $26.22. The firm has a market capitalization of $618.81 million, a P/E ratio of 11.66 and a beta of 1.07.
M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, July 26th. The construction company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.05. The business had revenue of $456.87 million for the quarter, compared to analysts’ expectations of $456.56 million. M/I Homes had a return on equity of 12.99% and a net margin of 3.57%. The firm’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, equities research analysts expect that M/I Homes will post $3.00 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in M/I Homes in the first quarter valued at $104,000. Bank of Montreal Can boosted its position in M/I Homes by 111.8% during the second quarter. Bank of Montreal Can now owns 4,815 shares of the construction company’s stock valued at $137,000 after buying an additional 2,542 shares during the period. State of Alaska Department of Revenue boosted its position in M/I Homes by 79.3% during the second quarter. State of Alaska Department of Revenue now owns 4,894 shares of the construction company’s stock valued at $139,000 after buying an additional 2,164 shares during the period. Mason Street Advisors LLC boosted its position in M/I Homes by 7.4% during the first quarter. Mason Street Advisors LLC now owns 5,790 shares of the construction company’s stock valued at $142,000 after buying an additional 399 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in M/I Homes during the first quarter valued at about $156,000.
M/I Homes Company Profile
M/I Homes, Inc is a builder of single-family homes. The Company consists of two operations: homebuilding and financial services. It operates through Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations segments. The Company and its subsidiaries are engaged primarily in the construction and sale of single-family residential homes in 15 markets: Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.
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