M/I Homes (NYSE:MHO) Trading Up 4.5% – Here’s Why

by · The Cerbat Gem

Shares of M/I Homes, Inc. (NYSE:MHO – Get Free Report) shot up 4.5% during mid-day trading on Friday . The company traded as high as $111.00 and last traded at $114.00. 90,827 shares were traded during trading, a decline of 68% from the average session volume of 286,723 shares. The stock had previously closed at $109.10.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com raised M/I Homes from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Raymond James restated a “strong-buy” rating and issued a $168.00 price target (down from $210.00) on shares of M/I Homes in a research report on Thursday, January 30th. Finally, Seaport Res Ptn upgraded shares of M/I Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th.

Read Our Latest Stock Report on M/I Homes

M/I Homes Trading Up 5.3 %

The company’s 50 day simple moving average is $119.37 and its 200-day simple moving average is $141.98. The firm has a market cap of $3.12 billion, a P/E ratio of 5.82 and a beta of 2.31. The company has a quick ratio of 1.93, a current ratio of 7.65 and a debt-to-equity ratio of 0.33.

M/I Homes (NYSE:MHO – Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.96 by ($0.25). M/I Homes had a return on equity of 20.20% and a net margin of 12.51%. As a group, research analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. bought a new position in M/I Homes in the fourth quarter worth approximately $27,000. R Squared Ltd purchased a new stake in shares of M/I Homes in the 4th quarter worth $33,000. Aster Capital Management DIFC Ltd bought a new position in shares of M/I Homes during the 4th quarter worth $50,000. Steward Partners Investment Advisory LLC purchased a new position in shares of M/I Homes during the fourth quarter valued at $70,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of M/I Homes during the fourth quarter valued at $80,000. 95.14% of the stock is currently owned by institutional investors.

About M/I Homes

(Get Free Report)

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential 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.

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