Meritage Corporation (MTH) Receives Consensus Rating of “Hold” from Brokerages
Meritage Corporation (NYSE:MTH) has received an average recommendation of “Hold” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $40.29.
A number of equities research analysts recently commented on MTH shares. Bank of America Corporation reissued an “underperform” rating and issued a $38.00 price target (up from $36.00) on shares of Meritage Corporation in a research report on Wednesday, June 28th. BidaskClub upgraded Meritage Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Credit Suisse Group started coverage on Meritage Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $40.00 price objective for the company. Barclays PLC restated an “underweight” rating on shares of Meritage Corporation in a research note on Thursday, July 13th. Finally, Deutsche Bank AG upped their price objective on Meritage Corporation from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd.
In other Meritage Corporation news, EVP Javier Feliciano sold 1,009 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total value of $35,869.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of MTH. Swiss National Bank grew its stake in shares of Meritage Corporation by 1.8% during the 1st quarter. Swiss National Bank now owns 62,700 shares of the construction company’s stock worth $2,307,000 after acquiring an additional 1,100 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Meritage Corporation by 59.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 22,586 shares of the construction company’s stock worth $831,000 after acquiring an additional 8,440 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Meritage Corporation by 5.3% during the 1st quarter. Ameriprise Financial Inc. now owns 211,482 shares of the construction company’s stock worth $7,783,000 after acquiring an additional 10,650 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of Meritage Corporation by 78.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 91,599 shares of the construction company’s stock worth $3,371,000 after acquiring an additional 40,286 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Meritage Corporation during the 1st quarter worth $122,000. Institutional investors own 98.18% of the company’s stock.
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Meritage Corporation (MTH) traded up 0.573% during trading on Thursday, hitting $48.275. 47,857 shares of the company traded hands. Meritage Corporation has a 12-month low of $29.70 and a 12-month high of $48.40. The stock has a 50-day moving average price of $42.17 and a 200-day moving average price of $40.93. The firm has a market capitalization of $1.95 billion, a P/E ratio of 13.284 and a beta of 1.48.
Meritage Corporation (NYSE:MTH) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.23. The business had revenue of $802.00 million during the quarter, compared to analyst estimates of $760.39 million. Meritage Corporation had a return on equity of 10.74% and a net margin of 4.94%. Meritage Corporation’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS. Equities analysts expect that Meritage Corporation will post $3.77 EPS for the current fiscal 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.
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