M/I Homes (NYSE:MHO) Stock Rating Upgraded by Zacks Investment Research

M/I Homes (NYSE:MHO – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage presently has a $52.00 target price on the construction company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.69% from the stock’s previous close.

According to Zacks, “M/I Homes is one of nation’s leading builders of single family homes. M/I Homes have established an exemplary reputation based on a strong commitment to superior customer service, innovative design, quality construction and premium locations. M/I Homes serve a broad segment of the housing market including first-time, move-up, luxury and empty nester buyers. M/I Homes design, market, construct and sell single-family homes and attached townhomes to first-time, moveup, empty-nester and luxury buyers. The company have homebuilding operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Tampa, Orlando and Palm Beach County, Florida; Charlotte and Raleigh, North Carolina; Virginia and Maryland. “

Separately, StockNews.com started coverage on shares of M/I Homes in a report on Thursday, March 31st. They set a “hold” rating for the company.

Shares of MHO stock opened at $46.98 on Wednesday. The company has a market capitalization of $1.33 billion, a PE ratio of 3.45 and a beta of 1.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 4.59. The business’s fifty day moving average is $46.39 and its 200 day moving average is $53.34. M/I Homes has a 52-week low of $40.30 and a 52-week high of $74.85.

M/I Homes (NYSE:MHO – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The construction company reported $3.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.18. M/I Homes had a return on equity of 25.94% and a net margin of 10.69%. During the same quarter last year, the business earned $2.85 earnings per share. On average, sell-side analysts forecast that M/I Homes will post 15.25 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its stake in shares of M/I Homes by 94.6% during the first quarter. FMR LLC now owns 411,843 shares of the construction company’s stock valued at $10,963,000 after buying an additional 200,190 shares during the last quarter. Morgan Stanley lifted its position in M/I Homes by 84.7% in the second quarter. Morgan Stanley now owns 195,921 shares of the construction company’s stock valued at $11,494,000 after purchasing an additional 89,848 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of M/I Homes by 235.6% during the third quarter. SG Americas Securities LLC now owns 16,469 shares of the construction company’s stock valued at $952,000 after purchasing an additional 11,562 shares during the period. Raymond James & Associates bought a new position in shares of M/I Homes in the third quarter worth approximately $507,000. Finally, Advisor Group Holdings Inc. increased its stake in shares of M/I Homes by 289.8% in the third quarter. Advisor Group Holdings Inc. now owns 3,224 shares of the construction company’s stock worth $187,000 after buying an additional 2,397 shares during the period. Hedge funds and other institutional investors own 89.55% of the company’s stock.

About M/I Homes (Get Rating)

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.

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