M/I Homes, Inc. (NYSE:MHO) Lifted to Outperform at JMP Securities

M/I Homes, Inc. (NYSE:MHO) was upgraded by equities researchers at JMP Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday, July 31st, Marketbeat Ratings reports. The firm presently has a $32.00 price objective on the construction company’s stock. JMP Securities’ price target suggests a potential upside of 27.14% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other brokerages have also issued reports on MHO. BidaskClub lowered shares of M/I Homes from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Zacks Investment Research lowered shares of M/I Homes from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 28th. ValuEngine upgraded shares of M/I Homes from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, Wedbush set a $32.00 price objective on shares of M/I Homes and gave the company a “buy” rating in a report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $31.00.

Shares of M/I Homes (MHO) opened at 25.17 on Monday. The stock has a market cap of $631.87 million, a P/E ratio of 11.91 and a beta of 1.09. The stock has a 50 day moving average of $27.10 and a 200 day moving average of $26.15. M/I Homes has a 52 week low of $20.40 and a 52 week high of $29.42.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.68 by $0.05. M/I Homes had a return on equity of 12.99% and a net margin of 3.57%. The business had revenue of $456.87 million for the quarter, compared to analyst estimates of $456.56 million. During the same quarter in the previous year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, analysts expect that M/I Homes will post $3.00 earnings per share for the current year.

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A number of hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of M/I Homes during the first quarter worth about $104,000. Bank of Montreal Can raised its stake in shares of M/I Homes by 111.8% in the second quarter. Bank of Montreal Can now owns 4,815 shares of the construction company’s stock worth $137,000 after buying an additional 2,542 shares during the period. State of Alaska Department of Revenue raised its stake in shares of M/I Homes by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 4,894 shares of the construction company’s stock worth $139,000 after buying an additional 2,164 shares during the period. Mason Street Advisors LLC raised its stake in shares of M/I Homes by 7.4% in the first quarter. Mason Street Advisors LLC now owns 5,790 shares of the construction company’s stock worth $142,000 after buying an additional 399 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of M/I Homes during the first quarter worth about $156,000.

M/I Homes Company Profile

M/I Homes, Inc is a builder of single-family homes. The Company consists of two operations: homebuilding and financial services. It operates through Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations segments. The Company and its subsidiaries are engaged primarily in the construction and sale of single-family residential homes in 15 markets: Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.

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