M/I Homes initiated with a Neutral at Seaport Research

Seaport Research initiated coverage of M/I Homes with a Neutral rating and no price target. The analyst says growth from the company’s Mid-west roots largely into Texas, Florida, and the Carolinas now account for 60% of sales and EBIT. M/I’s margins success is both a benefit for returns now, but raises cyclical concerns, if strength is from currently strong markets, the analyst tells investors in a research note.