Meritage Homes (NYSE:MTH) Stock Rating Lowered by ValuEngine

Meritage Homes (NYSE:MTH) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.

Several other analysts have also issued reports on MTH. Zacks Investment Research upgraded shares of Meritage Homes from a “hold” rating to a “strong-buy” rating and set a $66.00 price target for the company in a research report on Monday, July 29th. Citigroup upgraded shares of Meritage Homes from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $63.00 in a research report on Thursday, July 25th. Finally, Zelman & Associates raised shares of Meritage Homes from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $47.34.

NYSE MTH traded up $0.02 during trading on Thursday, hitting $64.15. 729,975 shares of the company’s stock traded hands, compared to its average volume of 487,834. The business’s fifty day moving average price is $54.72. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.48. Meritage Homes has a 12-month low of $32.02 and a 12-month high of $66.18. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 1.45 and a beta of 1.06.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.28. Meritage Homes had a net margin of 5.94% and a return on equity of 11.81%. The business had revenue of $864.60 million during the quarter, compared to analyst estimates of $808.02 million. During the same period in the prior year, the business posted $1.32 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that Meritage Homes will post 5.4 earnings per share for the current year.

In related news, Director Gerald W. Haddock sold 5,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $62.87, for a total value of $314,350.00. Following the completion of the transaction, the director now directly owns 37,000 shares of the company’s stock, valued at $2,326,190. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Steven J. Hilton sold 166,106 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $63.11, for a total transaction of $10,482,949.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 600,026 shares of company stock valued at $37,867,874. Insiders own 6.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Meritage Homes by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 395,620 shares of the construction company’s stock valued at $14,527,000 after purchasing an additional 19,400 shares during the last quarter. Two Sigma Advisers LP bought a new position in Meritage Homes in the 4th quarter valued at $426,000. Bank of America Corp DE raised its position in Meritage Homes by 18.4% in the 4th quarter. Bank of America Corp DE now owns 324,361 shares of the construction company’s stock valued at $11,909,000 after purchasing an additional 50,393 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Meritage Homes by 365.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,568 shares of the construction company’s stock valued at $461,000 after purchasing an additional 9,868 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Meritage Homes by 11.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,943 shares of the construction company’s stock valued at $108,000 after purchasing an additional 304 shares during the last quarter. 96.76% of the stock is owned by institutional investors.

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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Analyst Recommendations for Meritage Homes (NYSE:MTH)

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