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

M/I Homes, Inc. (NYSE:MHO) shares hit a new 52-week low during 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.

Analyst Ratings Changes

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

M/I Homes Trading Up 4.5 %

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.93 and a current ratio of 7.65. The company has a 50 day moving average of $118.94 and a 200 day moving average of $141.61. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 5.78 and a beta of 2.31.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.71 earnings per share 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%. On average, research analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

Institutional Investors Weigh In On M/I Homes

Large investors have recently made changes to their positions in the stock. Hennessy Advisors Inc. acquired a new position in M/I Homes during the fourth quarter worth $43,674,000. Millennium Management LLC boosted its position in shares of M/I Homes by 85.5% during the 4th quarter. Millennium Management LLC now owns 238,826 shares of the construction company’s stock valued at $31,752,000 after acquiring an additional 110,086 shares during the last quarter. Royce & Associates LP increased its position in M/I Homes by 42.5% during the fourth quarter. Royce & Associates LP now owns 274,871 shares of the construction company’s stock worth $36,544,000 after purchasing an additional 81,964 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in M/I Homes during the fourth quarter worth about $10,672,000. Finally, Voloridge Investment Management LLC boosted its holdings in M/I Homes by 3,243.7% in the 4th quarter. Voloridge Investment Management LLC now owns 75,535 shares of the construction company’s stock valued at $10,042,000 after purchasing an additional 73,276 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.