Meritage Homes Corp (NYSE:MTH) has been given a consensus rating of “Hold” by the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $44.01.
MTH has been the topic of a number of analyst reports. Zacks Investment Research upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Citigroup reduced their price objective on Meritage Homes from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, January 4th. ValuEngine upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Wedbush downgraded Meritage Homes from an “outperform” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research report on Thursday, January 10th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 target price on shares of Meritage Homes in a research report on Thursday, January 31st.
Shares of Meritage Homes stock opened at $43.25 on Friday. Meritage Homes has a one year low of $32.02 and a one year high of $48.70. The company has a market cap of $1.59 billion, a P/E ratio of 7.75, a P/E/G ratio of 0.96 and a beta of 1.15. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76.
Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Wednesday, January 30th. The construction company reported $1.91 EPS for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.39. Meritage Homes had a return on equity of 13.49% and a net margin of 6.47%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $958.84 million. During the same quarter last year, the business posted $0.87 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, research analysts predict that Meritage Homes will post 4.56 earnings per share for the current year.
In other Meritage Homes news, EVP C Timothy White sold 19,500 shares of Meritage Homes stock in a transaction on Monday, February 4th. The stock was sold at an average price of $45.07, for a total value of $878,865.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Phillippe Lord sold 2,272 shares of Meritage Homes stock in a transaction on Friday, March 8th. The shares were sold at an average price of $44.00, for a total value of $99,968.00. The disclosure for this sale can be found here. Insiders sold 89,611 shares of company stock worth $3,924,400 in the last 90 days. Company insiders own 5.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Capital Impact Advisors LLC grew its stake in Meritage Homes by 11.7% during the 4th quarter. Capital Impact Advisors LLC now owns 44,526 shares of the construction company’s stock worth $1,639,000 after purchasing an additional 4,670 shares in the last quarter. Geode Capital Management LLC grew its stake in Meritage Homes by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 395,620 shares of the construction company’s stock worth $14,527,000 after purchasing an additional 19,400 shares in the last quarter. Norges Bank acquired a new position in Meritage Homes during the 4th quarter worth $14,217,000. FMR LLC grew its stake in Meritage Homes by 91.2% during the 4th quarter. FMR LLC now owns 1,037,323 shares of the construction company’s stock worth $38,091,000 after purchasing an additional 494,900 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Meritage Homes by 11.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,943 shares of the construction company’s stock worth $108,000 after purchasing an additional 304 shares in the last quarter. Institutional investors own 98.27% of the company’s stock.
Meritage Homes Company Profile
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 first-time and first move-up buyers. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.
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