Meritage Homes (NYSE:MTH) had its target price upped by equities researchers at UBS Group from $52.00 to $57.00 in a research report issued on Wednesday, 99wallstreet.com reports. The brokerage presently has a “neutral” rating on the construction company’s stock. UBS Group’s target price suggests a potential upside of 11.00% from the company’s current price.

A number of other analysts have also weighed in on the company. Citigroup upgraded Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Monday, January 8th. ValuEngine upgraded Meritage Homes from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research lowered Meritage Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $43.70.

Shares of Meritage Homes (NYSE MTH) traded down $1.55 during midday trading on Wednesday, hitting $51.35. The company’s stock had a trading volume of 360,300 shares, compared to its average volume of 452,780. The company has a market capitalization of $2,133.25, a PE ratio of 13.58, a PEG ratio of 0.96 and a beta of 1.54. Meritage Homes has a 12 month low of $33.40 and a 12 month high of $55.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings data on Friday, October 27th. The construction company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.09. The company had revenue of $805.60 million during the quarter, compared to analysts’ expectations of $827.40 million. Meritage Homes had a return on equity of 10.81% and a net margin of 5.04%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share. equities analysts forecast that Meritage Homes will post 3.8 EPS for the current year.

In related news, Director Robert Gary Sarver sold 12,000 shares of Meritage Homes stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $50.47, for a total value of $605,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Javier Feliciano sold 1,009 shares of Meritage Homes 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 disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MTH. Schwab Charles Investment Management Inc. increased its position in Meritage Homes by 10.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 249,660 shares of the construction company’s stock worth $10,536,000 after purchasing an additional 23,662 shares during the period. Victory Capital Management Inc. increased its position in Meritage Homes by 17.6% in 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 period. Prudential Financial Inc. increased its position in Meritage Homes by 41.6% in the second quarter. Prudential Financial Inc. now owns 92,018 shares of the construction company’s stock worth $3,883,000 after purchasing an additional 27,040 shares during the period. Principal Financial Group Inc. increased its position in Meritage Homes by 2.2% in the second quarter. Principal Financial Group Inc. now owns 292,999 shares of the construction company’s stock worth $12,365,000 after purchasing an additional 6,360 shares during the period. Finally, Riverhead Capital Management LLC increased its position in Meritage Homes 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 purchasing an additional 1,496 shares during the period.

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Meritage Homes 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 Homes (NYSE:MTH)

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