M/I Homes, Inc. (NYSE:MHO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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. “

A number of other brokerages have also recently issued reports on MHO. BidaskClub cut shares of M/I Homes from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. ValuEngine raised shares of M/I Homes from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, JMP Securities raised shares of M/I Homes from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a report on Monday, July 31st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $31.00.

Shares of M/I Homes (MHO) opened at 24.41 on Tuesday. The stock’s 50 day moving average price is $26.32 and its 200 day moving average price is $26.16. M/I Homes has a one year low of $20.40 and a one year high of $29.42. The firm has a market cap of $612.79 million, a price-to-earnings ratio of 11.55 and a beta of 1.09.

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

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in MHO. Airain ltd purchased a new position in M/I Homes during the first quarter valued at $214,000. Brookfield Asset Management Inc. purchased a new position in M/I Homes during the first quarter valued at $3,979,000. SG Americas Securities LLC purchased a new position in M/I Homes during the first quarter valued at $104,000. Principal Financial Group Inc. boosted its position in M/I Homes by 4.0% in the first quarter. Principal Financial Group Inc. now owns 188,210 shares of the construction company’s stock valued at $4,611,000 after buying an additional 7,299 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its position in M/I Homes by 3.2% in the second quarter. Capstone Asset Management Co. now owns 17,213 shares of the construction company’s stock valued at $491,000 after buying an additional 530 shares during the last quarter.

About M/I Homes

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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