M/I Homes (NYSE:MHO) Hits New 1-Year Low – Here’s Why

M/I Homes, Inc. (NYSE:MHO)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $106.57 and last traded at $106.94, with a volume of 63678 shares traded. The stock had previously closed at $115.72.

Analyst Upgrades and Downgrades

MHO has been the topic of several recent research reports. Raymond James restated a “strong-buy” rating and issued a $168.00 price target (down from $210.00) on shares of M/I Homes in a research report on Thursday, January 30th. Seaport Res Ptn raised shares of M/I Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Finally, StockNews.com raised shares of M/I Homes from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.

M/I Homes Stock Down 5.7 %

The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 5.55 and a beta of 2.31. The company has a quick ratio of 1.93, a current ratio of 7.65 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $119.91 and a two-hundred day moving average of $142.21.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $4.71 earnings per share for the quarter, missing analysts’ consensus estimates of $4.96 by ($0.25). M/I Homes had a net margin of 12.51% and a return on equity of 20.20%. As a group, sell-side analysts anticipate that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of M/I Homes in the fourth quarter worth approximately $27,000. R Squared Ltd purchased a new stake in M/I Homes during the fourth quarter worth about $33,000. Aster Capital Management DIFC Ltd purchased a new position in M/I Homes in the fourth quarter valued at approximately $50,000. Steward Partners Investment Advisory LLC bought a new position in shares of M/I Homes during the 4th quarter worth $70,000. Finally, Jones Financial Companies Lllp bought a new position in M/I Homes during the fourth quarter worth about $80,000. Institutional investors own 95.14% of the company’s stock.

M/I Homes Company Profile

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.