M/I Homes (NYSE:MHO) Sets New 52-Week Low – Here’s Why

M/I Homes, Inc. (NYSE:MHO)’s stock price hit 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 changing hands. The stock had previously closed at $115.72.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MHO. Seaport Res Ptn upgraded shares of M/I Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Raymond James reissued a “strong-buy” rating and set a $168.00 price target (down previously from $210.00) on shares of M/I Homes in a research note on Thursday, January 30th. Finally, StockNews.com upgraded M/I Homes from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.

M/I Homes Price Performance

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

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $4.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.96 by ($0.25). M/I Homes had a return on equity of 20.20% and a net margin of 12.51%. Equities research analysts forecast that M/I Homes, Inc. will post 18.44 EPS for the current year.

Institutional Trading of M/I Homes

Hedge funds have recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in shares of M/I Homes during the 4th quarter valued at $27,000. R Squared Ltd acquired a new position in shares of M/I Homes during the 4th quarter worth about $33,000. Aster Capital Management DIFC Ltd acquired a new position in shares of M/I Homes during the fourth quarter worth approximately $50,000. Steward Partners Investment Advisory LLC bought a new stake in M/I Homes in the 4th quarter valued at $70,000. Finally, Jones Financial Companies Lllp bought a new position in M/I Homes during the fourth quarter valued at about $80,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.