Meritage Homes (MTH) Downgraded by Zacks Investment Research

Meritage Homes (NYSE:MTH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, January 2nd.

According to Zacks, “Meritage Homes Corporation is the eighth-largest public homebuilder in the United States. Meritage Homes builds and sells single-family homes for first-time, move-up, luxury and active adult buyers across the Western, Southern and Southeastern United States. Meritage Homes builds in markets including Sacramento, San Francisco Bay area, southern coastal and Inland Empire markets in California; Houston, Dallas-Ft. Worth, Austin and San Antonio, Texas; Phoenix/Scottsdale, Green Valley and Tucson, Arizona; Denver, Colorado; Orlando, Tampa and south Florida; Raleigh and Charlotte, North Carolina; Greenville-Spartanburg and York County, South Carolina; Nashville, Tennessee; and Atlanta, Georgia. Meritage Homes is the industry leader in energy-efficient homebuilding and has received the U.S. Environmental Protection Agency’s ENERGY STAR Partner of the Year for Sustained Excellence Award every year for innovation and industry leadership in energy efficient homebuilding. “

A number of other equities analysts have also recently commented on the stock. UBS Group started coverage on shares of Meritage Homes in a report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 target price on the stock. ValuEngine raised shares of Meritage Homes from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Finally, Citigroup lifted their target price on shares of Meritage Homes from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Meritage Homes has an average rating of “Hold” and an average target price of $43.20.

Shares of Meritage Homes (NYSE:MTH) traded down $1.55 during trading hours on Tuesday, hitting $52.25. 432,100 shares of the stock traded hands, compared to its average volume of 459,857. The stock has a market cap of $2,140.00, a P/E ratio of 13.90, a PEG ratio of 1.27 and a beta of 1.54. 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 has a twelve month low of $33.40 and a twelve month high of $55.50.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings data on Friday, October 27th. The construction company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.09. The business had revenue of $805.60 million during the quarter, compared to the consensus estimate of $827.40 million. Meritage Homes had a net margin of 5.04% and a return on equity of 10.81%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. equities research analysts expect that Meritage Homes will post 3.8 EPS for the current fiscal year.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Meritage Homes by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,334,402 shares of the construction company’s stock worth $140,712,000 after purchasing an additional 37,025 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Meritage Homes by 8.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 269,968 shares of the construction company’s stock worth $11,987,000 after purchasing an additional 20,308 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Meritage Homes by 2.2% during the 3rd quarter. Earnest Partners LLC now owns 1,752,837 shares of the construction company’s stock worth $77,826,000 after purchasing an additional 37,201 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Meritage Homes during the 3rd quarter worth $893,000. Finally, Principal Financial Group Inc. boosted its position in shares of Meritage Homes by 2.2% during the 2nd quarter. Principal Financial Group Inc. now owns 292,999 shares of the construction company’s stock worth $12,365,000 after purchasing an additional 6,360 shares in the last quarter. Institutional investors own 98.20% of the company’s stock.

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Meritage Homes 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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