M/I Homes (NYSE:MHO) Stock Passes Above 200-Day Moving Average – Should You Sell?

M/I Homes, Inc. (NYSE:MHO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $133.70 and traded as high as $139.56. M/I Homes shares last traded at $137.0290, with a volume of 155,109 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citizens Jmp began coverage on M/I Homes in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 target price on the stock. Raymond James Financial lifted their price objective on shares of M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a research report on Friday, October 24th. Citigroup assumed coverage on shares of M/I Homes in a research note on Wednesday, January 7th. They issued an “outperform” rating for the company. Zacks Research upgraded shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, M/I Homes currently has a consensus rating of “Buy” and a consensus price target of $160.00.

M/I Homes Trading Down 1.4%

The firm’s 50 day simple moving average is $131.83 and its 200-day simple moving average is $133.70. The company has a quick ratio of 1.59, a current ratio of 7.15 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $3.58 billion, a PE ratio of 8.05 and a beta of 1.75.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, October 22nd. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.37 by ($0.45). The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.16 billion. M/I Homes had a net margin of 10.56% and a return on equity of 15.72%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current year.

M/I Homes announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 12th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of M/I Homes by 46.3% during the 1st quarter. Royal Bank of Canada now owns 29,774 shares of the construction company’s stock worth $3,400,000 after purchasing an additional 9,422 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in M/I Homes by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company’s stock worth $1,812,000 after buying an additional 703 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of M/I Homes during the first quarter valued at $205,000. Strs Ohio acquired a new stake in shares of M/I Homes during the first quarter valued at approximately $114,000. Finally, Voya Investment Management LLC lifted its stake in M/I Homes by 34.1% in the 1st quarter. Voya Investment Management LLC now owns 25,159 shares of the construction company’s stock worth $2,873,000 after acquiring an additional 6,396 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

About M/I Homes

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.