Meritage Corporation (NYSE:MTH) has been assigned a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $42.78.

Several research analysts recently commented on the company. Zacks Investment Research cut Meritage from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Citigroup boosted their target price on Meritage from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Finally, UBS initiated coverage on Meritage in a report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 target price for the company.

In other news, EVP Javier Feliciano sold 1,009 shares of the stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its holdings in Meritage by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock worth $123,000 after acquiring an additional 328 shares during the period. Riverhead Capital Management LLC boosted its holdings in shares of Meritage by 88.0% during the second quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock worth $135,000 after purchasing an additional 1,496 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Meritage during the second quarter worth $170,000. Victory Capital Management Inc. boosted its holdings in shares of Meritage by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,066 shares of the construction company’s stock worth $172,000 after purchasing an additional 609 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Meritage during the second quarter worth $202,000. 98.20% of the stock is owned by institutional investors and hedge funds.

Meritage (MTH) traded up $0.55 on Friday, reaching $54.95. The company had a trading volume of 456,100 shares, compared to its average volume of 304,064. Meritage has a 1 year low of $33.40 and a 1 year high of $55.50. The firm has a market cap of $2,139.30, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.40 and a beta of 1.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70.

Meritage (NYSE:MTH) last released its earnings results on Friday, October 27th. The construction company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.09. Meritage had a return on equity of 10.81% and a net margin of 5.04%. The firm had revenue of $805.60 million during the quarter, compared to analysts’ expectations of $827.40 million. During the same period in the previous year, the firm posted $0.88 EPS. Meritage’s revenue for the quarter was up 7.0% on a year-over-year basis. equities research analysts anticipate that Meritage will post 3.8 EPS for the current year.

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Meritage 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 (NYSE:MTH)

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