M/I Homes (NYSE:MHO) Stock Price Passes Above 200 Day Moving Average – What’s Next?

M/I Homes, Inc. (NYSE:MHO) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $132.96 and traded as high as $150.25. M/I Homes shares last traded at $148.8320, with a volume of 353,600 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MHO shares. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a report on Friday, May 15th. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Finally, Seaport Research Partners reaffirmed a “neutral” rating on shares of M/I Homes in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, M/I Homes currently has an average rating of “Moderate Buy” and an average target price of $161.67.

M/I Homes Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 8.40 and a quick ratio of 1.95. The company’s fifty day moving average price is $132.76 and its 200 day moving average price is $132.96. The company has a market cap of $3.81 billion, a PE ratio of 11.21 and a beta of 1.62.

M/I Homes (NYSE:MHO) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.09). M/I Homes had a return on equity of 12.91% and a net margin of 8.24%.The firm had revenue of $920.71 million for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the firm posted $3.98 earnings per share. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, equities research analysts predict that M/I Homes, Inc. will post 12.6 earnings per share for the current year.

Hedge Funds Weigh In On M/I Homes

Hedge funds and other institutional investors have recently modified their holdings of the business. Militia Capital Management LLC bought a new position in shares of M/I Homes in the first quarter valued at approximately $2,816,000. NewEdge Advisors LLC lifted its holdings in M/I Homes by 21.7% during the first quarter. NewEdge Advisors LLC now owns 4,445 shares of the construction company’s stock worth $544,000 after acquiring an additional 792 shares during the period. EMG Holdings L.P. lifted its holdings in M/I Homes by 73.3% during the first quarter. EMG Holdings L.P. now owns 47,700 shares of the construction company’s stock worth $5,841,000 after acquiring an additional 20,171 shares during the period. Edgestream Partners L.P. purchased a new position in M/I Homes in the first quarter worth $8,828,000. Finally, Cim LLC boosted its position in M/I Homes by 115.6% in the first quarter. Cim LLC now owns 3,738 shares of the construction company’s stock worth $458,000 after purchasing an additional 2,004 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

M/I Homes Company Profile

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.