M/I Homes (MHO) Upgraded to Sell at ValuEngine

M/I Homes (NYSE:MHO) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Thursday.

A number of other research analysts have also recently issued reports on MHO. Zacks Investment Research raised M/I Homes from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. JMP Securities set a $30.00 target price on M/I Homes and gave the company a “buy” rating in a research note on Monday, October 15th. Finally, Wedbush set a $32.00 target price on M/I Homes and gave the company a “buy” rating in a research note on Thursday, October 25th. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $34.33.

NYSE:MHO traded up $0.59 on Thursday, reaching $23.34. The company’s stock had a trading volume of 262,700 shares, compared to its average volume of 263,833. M/I Homes has a 1-year low of $21.30 and a 1-year high of $37.41. The company has a current ratio of 6.23, a quick ratio of 0.50 and a debt-to-equity ratio of 1.05. The stock has a market cap of $635.27 million, a price-to-earnings ratio of 8.10 and a beta of 0.94.

M/I Homes (NYSE:MHO) last posted its earnings results on Wednesday, October 24th. The construction company reported $1.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.03. M/I Homes had a return on equity of 13.46% and a net margin of 4.17%. The firm had revenue of $567.80 million during the quarter, compared to analysts’ expectations of $552.54 million. During the same period in the previous year, the firm earned $0.71 earnings per share. The company’s revenue was up 19.2% on a year-over-year basis. Sell-side analysts forecast that M/I Homes will post 3.97 earnings per share for the current year.

M/I Homes announced that its Board of Directors has approved a share repurchase plan on Tuesday, August 14th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Several institutional investors have recently modified their holdings of MHO. Principal Financial Group Inc. lifted its holdings in shares of M/I Homes by 4.0% in the first quarter. Principal Financial Group Inc. now owns 214,922 shares of the construction company’s stock valued at $6,845,000 after purchasing an additional 8,217 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in M/I Homes during the second quarter worth about $176,000. First Trust Advisors LP raised its holdings in M/I Homes by 20.6% during the second quarter. First Trust Advisors LP now owns 32,831 shares of the construction company’s stock worth $869,000 after acquiring an additional 5,598 shares in the last quarter. IndexIQ Advisors LLC raised its holdings in M/I Homes by 8.0% during the second quarter. IndexIQ Advisors LLC now owns 68,676 shares of the construction company’s stock worth $1,819,000 after acquiring an additional 5,069 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in M/I Homes during the second quarter worth about $366,000. Institutional investors own 96.88% of the company’s stock.

M/I Homes Company Profile

M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.

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