Raymond James Reiterates “Strong-Buy” Rating for M/I Homes (NYSE:MHO)

M/I Homes (NYSE:MHO)‘s stock had its “strong-buy” rating reiterated by analysts at Raymond James in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $168.00 price objective on the construction company’s stock, down from their prior price objective of $210.00. Raymond James’ price target suggests a potential upside of 30.02% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of M/I Homes from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Wedbush upgraded shares of M/I Homes from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $155.00 to $185.00 in a research note on Monday, November 4th.

M/I Homes Price Performance

Shares of MHO opened at $129.22 on Thursday. The firm has a fifty day moving average price of $144.44 and a 200 day moving average price of $153.55. The stock has a market cap of $3.59 billion, a PE ratio of 6.92 and a beta of 2.29. M/I Homes has a 1-year low of $109.92 and a 1-year high of $176.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 6.81 and a quick ratio of 1.60.

M/I Homes (NYSE:MHO) last announced its 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 net margin of 12.54% and a return on equity of 19.94%. As a group, sell-side analysts anticipate that M/I Homes will post 19.83 EPS for the current year.

Insider Buying and Selling

In related news, CFO Phillip G. Creek sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $160.00, for a total value of $3,200,000.00. Following the completion of the sale, the chief financial officer now owns 18,545 shares in the company, valued at $2,967,200. This trade represents a 51.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MHO. V Square Quantitative Management LLC purchased a new stake in M/I Homes during the third quarter worth $27,000. R Squared Ltd purchased a new stake in M/I Homes during the 4th quarter worth about $33,000. Signaturefd LLC lifted its holdings in M/I Homes by 49.4% in the 3rd quarter. Signaturefd LLC now owns 354 shares of the construction company’s stock valued at $61,000 after purchasing an additional 117 shares in the last quarter. Quarry LP grew its holdings in shares of M/I Homes by 148.0% during the second quarter. Quarry LP now owns 558 shares of the construction company’s stock worth $68,000 after buying an additional 333 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in shares of M/I Homes during the third quarter valued at approximately $86,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

About M/I Homes

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.