Meritage Homes (MTH) Given “Neutral” Rating at UBS Group
Meritage Homes (NYSE:MTH)‘s stock had its “neutral” rating reiterated by equities researchers at UBS Group in a note issued to investors on Wednesday, 99wallstreet.com reports. They currently have a $57.00 price objective on the construction company’s stock, up from their prior price objective of $52.00. UBS Group’s price objective would suggest a potential upside of 8.26% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Meritage Homes from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. ValuEngine raised Meritage Homes from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Citigroup boosted their target price on Meritage Homes from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Meritage Homes has a consensus rating of “Hold” and an average target price of $43.70.
Meritage Homes (NYSE MTH) traded up $1.30 on Wednesday, hitting $52.65. The stock had a trading volume of 335,588 shares, compared to its average volume of 442,118. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. Meritage Homes has a 52-week low of $33.40 and a 52-week high of $55.50. The stock has a market capitalization of $2,133.25, a PE ratio of 13.93, a PEG ratio of 0.96 and a beta of 1.54.
In related 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Gary Sarver sold 12,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $50.47, for a total value of $605,640.00. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. grew its stake in Meritage Homes by 2.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 275,390 shares of the construction company’s stock worth $14,100,000 after purchasing an additional 5,422 shares during the period. Atlantic Trust Group LLC purchased a new stake in Meritage Homes in the third quarter worth $1,204,000. California Public Employees Retirement System grew its stake in Meritage Homes by 2.2% in the third quarter. California Public Employees Retirement System now owns 51,400 shares of the construction company’s stock worth $2,282,000 after purchasing an additional 1,100 shares during the period. Earnest Partners LLC grew its stake in Meritage Homes by 2.2% in the third quarter. Earnest Partners LLC now owns 1,752,837 shares of the construction company’s stock worth $77,826,000 after purchasing an additional 37,201 shares during the period. Finally, Legal & General Group Plc grew its stake in Meritage Homes by 24.0% in the third quarter. Legal & General Group Plc now owns 95,556 shares of the construction company’s stock worth $4,243,000 after purchasing an additional 18,510 shares during the period.
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About Meritage Homes
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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