Meritage Homes Corp (MTH) Receives Average Recommendation of “Hold” from Brokerages

Shares of Meritage Homes Corp (NYSE:MTH) have been given an average recommendation of “Hold” by the fourteen analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $43.33.

Several research firms recently weighed in on MTH. UBS Group reaffirmed a “neutral” rating and set a $57.00 target price (up from $52.00) on shares of Meritage Homes in a research note on Wednesday. Zacks Investment Research raised shares of Meritage Homes from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. ValuEngine raised shares of Meritage Homes from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Citigroup raised their target price on shares of Meritage Homes from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, October 30th.

Meritage Homes (NYSE:MTH) traded up $0.45 on Friday, reaching $52.15. 298,626 shares of the company traded hands, compared to its average volume of 363,056. The stock has a market capitalization of $2,084.86, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. Meritage Homes has a 52 week low of $33.40 and a 52 week high of $55.50. 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 (NYSE:MTH) last posted its earnings results on Friday, October 27th. The construction company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ 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 net margin of 5.04% and a return on equity of 10.81%. Meritage Homes’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company posted $0.88 earnings per share. analysts anticipate that Meritage Homes will post 3.8 earnings per share for the current year.

In other Meritage Homes news, Director Robert Gary Sarver sold 12,000 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $50.47, for a total transaction of $605,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Javier Feliciano sold 1,009 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total transaction of $35,869.95. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new stake in shares of Meritage Homes in the 4th quarter worth about $460,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Meritage Homes by 2.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 275,390 shares of the construction company’s stock worth $14,100,000 after acquiring an additional 5,422 shares during the last quarter. Atlantic Trust Group LLC bought a new stake in shares of Meritage Homes in the 3rd quarter worth about $1,204,000. California Public Employees Retirement System lifted its holdings in shares of Meritage Homes by 2.2% in the 3rd quarter. California Public Employees Retirement System now owns 51,400 shares of the construction company’s stock worth $2,282,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Earnest Partners LLC lifted its holdings in shares of Meritage Homes by 2.2% in the 3rd quarter. Earnest Partners LLC now owns 1,752,837 shares of the construction company’s stock worth $77,826,000 after acquiring an additional 37,201 shares during the last quarter.

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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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