Meritage Corporation (MTH) Receives Consensus Rating of “Hold” from Brokerages
Shares of Meritage Corporation (NYSE:MTH) have earned an average rating of “Hold” from the twelve research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $41.13.
A number of research analysts have recently issued reports on the company. Barclays PLC reaffirmed an “underweight” rating and set a $38.00 price target (up from $36.00) on shares of Meritage Corporation in a report on Wednesday, August 2nd. Deutsche Bank AG upped their price target on Meritage Corporation from $40.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. BidaskClub downgraded Meritage Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Zacks Investment Research raised Meritage Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, July 5th. Finally, Bank of America Corporation reaffirmed an “underperform” rating and set a $38.00 price target (up from $36.00) on shares of Meritage Corporation in a report on Wednesday, June 28th.
In other Meritage Corporation news, EVP Javier Feliciano sold 1,009 shares of the 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 filing with the SEC, which is accessible through this link. 5.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its holdings in Meritage Corporation by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock valued at $123,000 after acquiring an additional 328 shares during the period. Riverhead Capital Management LLC increased its position in Meritage Corporation by 88.0% in the second quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock worth $135,000 after buying an additional 1,496 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Meritage Corporation in the first quarter worth about $122,000. Victory Capital Management Inc. increased its position in Meritage Corporation by 64.9% in the first quarter. Victory Capital Management Inc. now owns 3,457 shares of the construction company’s stock worth $127,000 after buying an additional 1,361 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd increased its position in Meritage Corporation by 3,388.6% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,977 shares of the construction company’s stock worth $146,000 after buying an additional 3,863 shares in the last quarter. 98.18% of the stock is currently owned by institutional investors.
Meritage Corporation (NYSE MTH) traded down 0.74% during midday trading on Friday, hitting $40.50. The stock had a trading volume of 314,624 shares. Meritage Corporation has a 52 week low of $29.70 and a 52 week high of $44.45. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 11.14 and a beta of 1.46. The firm has a 50 day moving average of $41.67 and a 200 day moving average of $40.00.
Meritage Corporation (NYSE:MTH) last announced its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.23. The firm had revenue of $802.00 million for the quarter, compared to the consensus estimate of $760.39 million. Meritage Corporation had a return on equity of 10.74% and a net margin of 4.94%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. Equities research analysts predict that Meritage Corporation will post $3.80 EPS for the current year.
About Meritage Corporation
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.
Receive News & Ratings for Meritage Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Corporation and related companies with MarketBeat.com's FREE daily email newsletter.