M/I Homes (NYSE:MHO) Upgraded by StockNews.com to Buy

M/I Homes (NYSE:MHO – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Separately, Wedbush dropped their price objective on M/I Homes from $83.00 to $63.00 in a report on Thursday, October 27th.

M/I Homes Stock Performance

M/I Homes stock opened at $54.99 on Thursday. The stock has a fifty day moving average price of $47.07 and a 200 day moving average price of $44.00. The company has a current ratio of 4.84, a quick ratio of 0.37 and a debt-to-equity ratio of 0.46. M/I Homes has a 52 week low of $34.33 and a 52 week high of $55.90. The firm has a market capitalization of $1.51 billion, a P/E ratio of 3.34 and a beta of 1.79.

M/I Homes (NYSE:MHO – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The construction company reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.62. M/I Homes had a net margin of 11.94% and a return on equity of 26.75%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.05 billion. Equities research analysts anticipate that M/I Homes will post 16.77 earnings per share for the current year.

Institutional Investors Weigh In On M/I Homes

Several institutional investors and hedge funds have recently modified their holdings of the stock. SummerHaven Investment Management LLC grew its stake in shares of M/I Homes by 11.9% during the third quarter. SummerHaven Investment Management LLC now owns 17,431 shares of the construction company’s stock valued at $632,000 after acquiring an additional 1,860 shares in the last quarter. AlphaCrest Capital Management LLC grew its position in shares of M/I Homes by 634.1% during the second quarter. AlphaCrest Capital Management LLC now owns 46,407 shares of the construction company’s stock worth $1,841,000 after buying an additional 40,085 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of M/I Homes by 485.6% in the second quarter. Meeder Asset Management Inc. now owns 23,455 shares of the construction company’s stock worth $930,000 after buying an additional 19,450 shares during the last quarter. Strs Ohio acquired a new stake in M/I Homes in the third quarter valued at $601,000. Finally, Exchange Traded Concepts LLC boosted its stake in M/I Homes by 13.8% during the 2nd quarter. Exchange Traded Concepts LLC now owns 11,908 shares of the construction company’s stock valued at $472,000 after acquiring an additional 1,448 shares during the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

About M/I Homes

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M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments. It designs, constructs, markets, and sells single-family homes and attached townhomes to first-time, millennial, move-up, empty-nester, and luxury buyers under the M/I Homes brand name.