Shares of Meritage Homes Co. (NYSE:MTH) have been given a consensus rating of “Hold” by the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $53.89.
MTH has been the topic of a number of research reports. Citigroup raised shares of Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday, January 8th. Zacks Investment Research lowered shares of Meritage Homes from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. JMP Securities raised their price target on shares of Meritage Homes from $55.00 to $57.00 and gave the company a “market outperform” rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 price target on shares of Meritage Homes in a research note on Wednesday, March 21st. Finally, Credit Suisse Group raised shares of Meritage Homes from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $52.00 to $60.00 in a research note on Monday, January 22nd.
Shares of Meritage Homes stock opened at $46.00 on Thursday. The stock has a market capitalization of $1,855.23, a P/E ratio of 11.86, a P/E/G ratio of 0.68 and a beta of 1.19. Meritage Homes has a twelve month low of $36.88 and a twelve month high of $55.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.87 and a current ratio of 0.87.
Meritage Homes (NYSE:MTH) last issued its quarterly earnings results on Thursday, February 1st. The construction company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.09. The firm had revenue of $946.40 million for the quarter, compared to analyst estimates of $932.94 million. Meritage Homes had a net margin of 4.44% and a return on equity of 10.76%. Meritage Homes’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $1.22 EPS. sell-side analysts forecast that Meritage Homes will post 5.06 EPS for the current year.
In other news, CFO Hilla Sferruzza sold 589 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $45.20, for a total transaction of $26,622.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Phillippe Lord sold 5,009 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $43.40, for a total transaction of $217,390.60. Following the sale, the insider now owns 7,882 shares of the company’s stock, valued at approximately $342,078.80. The disclosure for this sale can be found here. Insiders sold a total of 25,968 shares of company stock worth $1,149,987 over the last three months. Corporate insiders own 5.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MTH. Xact Kapitalforvaltning AB acquired a new stake in shares of Meritage Homes during the 4th quarter worth approximately $232,000. Virtu Financial LLC acquired a new stake in shares of Meritage Homes during the 4th quarter worth approximately $240,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Meritage Homes during the 4th quarter worth approximately $319,000. Sei Investments Co. increased its holdings in shares of Meritage Homes by 80.3% during the 3rd quarter. Sei Investments Co. now owns 7,287 shares of the construction company’s stock worth $324,000 after buying an additional 3,245 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of Meritage Homes during the 4th quarter worth approximately $340,000. Institutional investors and hedge funds own 95.23% of the company’s stock.
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About Meritage Homes
Meritage Homes Corporation designs and builds single-family homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for various homebuyers, including first-time, move-up, active-adult, and luxury homes under the Meritage Homes brand name.
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