ValuEngine upgraded shares of Meritage Homes (NYSE:MTH) from a buy rating to a strong-buy rating in a report published on Sunday, December 31st.
MTH has been the subject of a number of other research reports. UBS Group began coverage on Meritage Homes in a research report on Wednesday, October 25th. They set a neutral rating and a $52.00 price objective for the company. Zacks Investment Research cut Meritage Homes from a buy rating to a hold rating in a research report on Tuesday, September 19th. Finally, Citigroup upped their price objective on Meritage Homes from $46.00 to $51.00 and gave the company a neutral rating in a research report on Monday, October 30th. Two investment 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 stock. Meritage Homes has an average rating of Hold and a consensus target price of $43.20.
Meritage Homes (NYSE MTH) traded down $1.55 during mid-day trading on Friday, hitting $52.25. The stock had a trading volume of 432,100 shares, compared to its average volume of 459,857. Meritage Homes has a 52-week low of $33.40 and a 52-week 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. The stock has a market capitalization of $2,140.00, a PE ratio of 13.90, a P/E/G ratio of 1.27 and a beta of 1.54.
Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Friday, October 27th. The construction company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.09. The firm had revenue of $805.60 million during the quarter, compared to analysts’ expectations of $827.40 million. Meritage Homes had a return on equity of 10.81% and a net margin of 5.04%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. analysts expect that Meritage Homes will post 3.8 EPS for the current year.
In other news, EVP Javier Feliciano sold 1,009 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total value of $35,869.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Gary Sarver sold 12,000 shares of the company’s 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 disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Meritage Homes by 1.1% during the second quarter. Vanguard Group Inc. now owns 3,334,402 shares of the construction company’s stock valued at $140,712,000 after buying an additional 37,025 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Meritage Homes by 8.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 269,968 shares of the construction company’s stock valued at $11,987,000 after purchasing an additional 20,308 shares during the period. Earnest Partners LLC raised its position in Meritage Homes by 2.2% during the third quarter. Earnest Partners LLC now owns 1,752,837 shares of the construction company’s stock valued at $77,826,000 after purchasing an additional 37,201 shares during the period. SG Americas Securities LLC purchased a new stake in Meritage Homes during the third quarter valued at approximately $893,000. Finally, Principal Financial Group Inc. raised its position in Meritage Homes by 2.2% during the second quarter. Principal Financial Group Inc. now owns 292,999 shares of the construction company’s stock valued at $12,365,000 after purchasing an additional 6,360 shares during the period. 98.20% of the stock is owned by institutional investors.
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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.
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