Meritage Homes (MTH) Lifted to “Buy” at Citigroup

Citigroup upgraded shares of Meritage Homes (NYSE:MTH) from a neutral rating to a buy rating in a research note released on Monday morning, MarketBeat reports. They currently have $51.00 price target on the construction company’s stock.

Other analysts have also issued reports about the company. Zacks Investment Research lowered Meritage Homes from a buy rating to a hold rating in a report on Tuesday, September 19th. ValuEngine upgraded Meritage Homes from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Finally, UBS Group began coverage on Meritage Homes in a report on Wednesday, October 25th. They issued a neutral rating and a $52.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $43.20.

Shares of Meritage Homes (NYSE MTH) opened at $52.25 on Monday. The company has a market capitalization of $2,140.00, a PE ratio of 13.90, a PEG ratio of 1.27 and a beta of 1.54. Meritage Homes has a twelve month low of $33.40 and a twelve month high of $55.50. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings results on Friday, October 27th. The construction company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.09. The company had revenue of $805.60 million for the quarter, compared to analyst estimates of $827.40 million. Meritage Homes had a return on equity of 10.81% and a net margin of 5.04%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. sell-side analysts anticipate that Meritage Homes will post 3.8 EPS for the current year.

In related news, Director Robert Gary Sarver sold 12,000 shares of Meritage Homes stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $50.47, for a total value of $605,640.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Javier Feliciano sold 1,009 shares of Meritage Homes stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total value of $35,869.95. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its position in shares of Meritage Homes by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock valued at $123,000 after acquiring an additional 328 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of Meritage Homes by 88.0% in the second quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock valued at $135,000 after acquiring an additional 1,496 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Meritage Homes in the second quarter valued at about $170,000. Victory Capital Management Inc. increased its position in shares of Meritage Homes by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,066 shares of the construction company’s stock valued at $172,000 after acquiring an additional 609 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in Meritage Homes during the second quarter worth approximately $222,000. 98.20% of the stock is currently owned by institutional investors and hedge funds.

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About Meritage Homes

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.

Analyst Recommendations for Meritage Homes (NYSE:MTH)

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