Meritage Homes (NYSE:MTH) Upgraded to Strong-Buy at ValuEngine

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Meritage Homes (NYSE:MTH)

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