M/I Homes (MHO) Cut to “Market Perform” at JMP Securities

M/I Homes (NYSE:MHO) was downgraded by stock analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. They presently have a $30.00 price objective on the construction company’s stock. JMP Securities’ price target would indicate a potential upside of 5.67% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other analysts have also issued reports on the stock. Wedbush set a $32.00 target price on shares of M/I Homes and gave the company a “buy” rating in a research report on Thursday, October 25th. ValuEngine raised shares of M/I Homes from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research cut shares of M/I Homes from a “hold” rating to a “sell” rating in a report on Tuesday, October 30th.

NYSE:MHO traded down $1.03 during mid-day trading on Wednesday, hitting $28.39. 921 shares of the stock traded hands, compared to its average volume of 200,351. The company has a market capitalization of $719.88 million, a price-to-earnings ratio of 9.83 and a beta of 1.15. M/I Homes has a 52 week low of $20.34 and a 52 week high of $34.54. The company has a current ratio of 6.23, a quick ratio of 0.50 and a debt-to-equity ratio of 1.05.

M/I Homes (NYSE:MHO) last released its quarterly earnings data on Tuesday, February 5th. The construction company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.09. The firm had revenue of $722.50 million for the quarter, compared to the consensus estimate of $684.59 million. M/I Homes had a net margin of 4.17% and a return on equity of 13.46%. The company’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period last year, the firm earned $1.11 earnings per share. As a group, equities analysts forecast that M/I Homes will post 3.99 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in M/I Homes by 208.7% in the fourth quarter. Victory Capital Management Inc. now owns 55,363 shares of the construction company’s stock worth $1,164,000 after purchasing an additional 37,426 shares during the period. Algert Global LLC purchased a new position in M/I Homes in the 4th quarter worth about $284,000. Rhumbline Advisers grew its stake in shares of M/I Homes by 17.2% in the 4th quarter. Rhumbline Advisers now owns 85,268 shares of the construction company’s stock valued at $1,792,000 after buying an additional 12,493 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of M/I Homes by 49.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 17,933 shares of the construction company’s stock valued at $377,000 after buying an additional 5,940 shares in the last quarter. Finally, Xact Kapitalforvaltning AB lifted its holdings in M/I Homes by 29.6% in the 4th quarter. Xact Kapitalforvaltning AB now owns 14,437 shares of the construction company’s stock worth $303,000 after purchasing an additional 3,300 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

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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