Meritage Corporation (NYSE:MTH) had its target price lifted by investment analysts at Citigroup Inc. from $46.00 to $51.00 in a report released on Monday. The brokerage currently has a “neutral” rating on the construction company’s stock. Citigroup Inc.’s target price indicates a potential upside of 5.92% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. UBS AG began coverage on Meritage Corporation in a research note on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 target price on the stock. Zacks Investment Research cut Meritage Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Barclays PLC reiterated an “underweight” rating and issued a $38.00 price objective (up from $36.00) on shares of Meritage Corporation in a report on Wednesday, August 2nd. Deutsche Bank AG upped their price objective on Meritage Corporation from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Finally, BidaskClub cut Meritage Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.20.

Meritage Corporation (NYSE MTH) traded up 1.04% during mid-day trading on Monday, reaching $48.65. The company had a trading volume of 435,123 shares. The stock has a market capitalization of $1.96 billion, a P/E ratio of 13.39 and a beta of 1.48. The stock has a 50 day moving average price of $44.79 and a 200-day moving average price of $41.89. Meritage Corporation has a 12-month low of $29.70 and a 12-month high of $50.10.

Meritage Corporation (NYSE:MTH) last announced its earnings results on Friday, October 27th. The construction company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.09. The business had revenue of $805.60 million for the quarter, compared to analyst estimates of $827.40 million. Meritage Corporation had a return on equity of 10.81% and a net margin of 5.04%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. Equities analysts anticipate that Meritage Corporation will post $3.77 EPS for the current fiscal year.

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In related 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 transaction of $35,869.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. NJ State Employees Deferred Compensation Plan boosted its holdings in Meritage Corporation by 33.3% during the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 20,000 shares of the construction company’s stock valued at $888,000 after acquiring an additional 5,000 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Meritage Corporation during the 3rd quarter valued at about $682,000. Aperio Group LLC boosted its holdings in Meritage Corporation by 4.7% during the 3rd quarter. Aperio Group LLC now owns 26,873 shares of the construction company’s stock valued at $1,193,000 after acquiring an additional 1,195 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Meritage Corporation by 12.7% during the 2nd 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. Finally, Piedmont Investment Advisors LLC purchased a new stake in Meritage Corporation during the 2nd quarter valued at about $346,000. Institutional investors own 98.35% of the company’s stock.

Meritage Corporation Company Profile

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.

Analyst Recommendations for Meritage Corporation (NYSE:MTH)

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