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.

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

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.

Analyst Recommendations for Meritage Homes (NYSE:MTH)

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