M/I Homes, Inc. (MHO) Downgraded by Zacks Investment Research to Strong Sell

Zacks Investment Research cut shares of M/I Homes, Inc. (NYSE:MHO) from a hold rating to a strong sell rating in a research note released on Wednesday.

According to Zacks, “M/I Homes, Inc. is one of the nation’s leading builders of single-family homes. Their homes are marketed and sold under the trade names M/I Homes and Showcase Homes. They 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. “

Other equities research analysts have also issued reports about the company. Wedbush reaffirmed an outperform rating and set a $28.00 target price (up from $27.00) on shares of M/I Homes in a research report on Thursday, February 2nd. TheStreet raised M/I Homes from a c rating to a b- rating in a research report on Thursday, February 2nd.

M/I Homes (NYSE:MHO) opened at 23.69 on Wednesday. The company has a market capitalization of $584.43 million, a P/E ratio of 12.88 and a beta of 0.95. The company’s 50-day moving average is $24.93 and its 200 day moving average is $23.61. M/I Homes has a one year low of $15.87 and a one year high of $26.70.

M/I Homes (NYSE:MHO) last issued its earnings results on Thursday, February 2nd. The company reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by $0.27. The firm had revenue of $511.70 million for the quarter, compared to the consensus estimate of $543.02 million. M/I Homes had a net margin of 3.35% and a return on equity of 11.39%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. Analysts predict that M/I Homes will post $2.74 EPS for the current year.

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In other news, CEO Robert H. Schottenstein sold 23,560 shares of the business’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $23.06, for a total value of $543,293.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. ClariVest Asset Management LLC increased its position in shares of M/I Homes by 525.8% in the third quarter. ClariVest Asset Management LLC now owns 202,660 shares of the company’s stock valued at $4,777,000 after buying an additional 170,276 shares during the period. Icon Advisers Inc. Co. increased its position in shares of M/I Homes by 82.1% in the third quarter. Icon Advisers Inc. Co. now owns 20,400 shares of the company’s stock valued at $481,000 after buying an additional 9,200 shares during the period. Bank of New York Mellon Corp increased its position in shares of M/I Homes by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 417,291 shares of the company’s stock valued at $9,835,000 after buying an additional 3,751 shares during the period. Victory Capital Management Inc. increased its position in shares of M/I Homes by 10.9% in the third quarter. Victory Capital Management Inc. now owns 44,641 shares of the company’s stock valued at $1,052,000 after buying an additional 4,383 shares during the period. Finally, Nordea Investment Management AB acquired a new position in shares of M/I Homes during the third quarter valued at $1,695,000.

M/I Homes Company Profile

M/I Homes, Inc is a builder of single-family homes. The Company consists of two distinct operations: homebuilding and financial services. The Company’s homebuilding operations are aggregated for reporting purposes into three reporting segments: the Midwest, Mid-Atlantic and Southern regions. The Company’s financial services operations support its homebuilding operations by providing mortgage loans and title services to the customers of its homebuilding operations and is reported as its own segment.

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