Meritage Corporation (NYSE:MTH) has earned an average recommendation of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $42.78.
Several research firms have commented on MTH. UBS began coverage on Meritage in a research report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 target price for the company. Zacks Investment Research downgraded Meritage from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Finally, Citigroup increased their target price on Meritage from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, October 30th.
In other news, EVP Javier Feliciano sold 1,009 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total transaction of $35,869.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System raised its position in shares of Meritage by 0.5% during the second quarter. Arizona State Retirement System now owns 19,728 shares of the construction company’s stock worth $833,000 after acquiring an additional 100 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Meritage by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock worth $123,000 after acquiring an additional 328 shares during the last quarter. Texas Permanent School Fund raised its position in shares of Meritage by 1.3% during the second quarter. Texas Permanent School Fund now owns 27,667 shares of the construction company’s stock worth $1,168,000 after acquiring an additional 364 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Meritage by 1.9% during the second quarter. UBS Asset Management Americas Inc. now owns 23,005 shares of the construction company’s stock worth $971,000 after acquiring an additional 419 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Meritage by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,066 shares of the construction company’s stock worth $172,000 after acquiring an additional 609 shares during the last quarter. Institutional investors own 98.20% of the company’s stock.
Meritage (MTH) traded down $0.20 during trading on Friday, reaching $54.00. The company’s stock had a trading volume of 354,819 shares, compared to its average volume of 305,228. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $2,185.67, a P/E ratio of 14.34, a PEG ratio of 1.43 and a beta of 1.53. Meritage has a 1 year low of $33.40 and a 1 year high of $55.50.
Meritage (NYSE:MTH) last posted its earnings results on Friday, October 27th. The construction company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.93 by $0.09. The firm had revenue of $805.60 million during the quarter, compared to the consensus estimate of $827.40 million. Meritage had a return on equity of 10.81% and a net margin of 5.04%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. equities research analysts forecast that Meritage will post 3.8 EPS for the current year.
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Meritage Company Profile
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.
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