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

M/I Homes, Inc. (NYSE:MHO)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $135.95 and traded as high as $150.44. M/I Homes shares last traded at $146.9050, with a volume of 177,360 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on MHO shares. Seaport Research Partners reaffirmed a “neutral” rating on shares of M/I Homes in a research report on Tuesday, April 7th. Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Freedom Capital upgraded shares of M/I Homes to a “strong-buy” rating in a research note on Wednesday, June 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a report on Friday, May 15th. Finally, Zelman & Associates downgraded shares of M/I Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $161.67.

M/I Homes Price Performance

The company has a current ratio of 8.40, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $142.28 and a 200 day moving average price of $135.95. The company has a market capitalization of $3.76 billion, a P/E ratio of 11.06 and a beta of 1.60.

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

Hedge Funds Weigh In On M/I Homes

Several institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its stake in shares of M/I Homes by 107.5% during the 4th quarter. Millennium Management LLC now owns 434,484 shares of the construction company’s stock worth $55,592,000 after buying an additional 225,120 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of M/I Homes by 116.4% during the 3rd quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock worth $43,464,000 after buying an additional 161,881 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of M/I Homes by 1,806.4% during the 4th quarter. Squarepoint Ops LLC now owns 114,134 shares of the construction company’s stock worth $14,603,000 after buying an additional 108,147 shares during the period. Gradient Investments LLC grew its stake in M/I Homes by 689.4% in the 4th quarter. Gradient Investments LLC now owns 114,773 shares of the construction company’s stock valued at $14,685,000 after buying an additional 100,233 shares during the last quarter. Finally, Donald Smith & CO. Inc. grew its stake in M/I Homes by 5.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,463,340 shares of the construction company’s stock valued at $187,234,000 after buying an additional 82,090 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.