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

Meritage Homes Corp (NYSE:MTH) has been assigned a consensus recommendation of “Buy” from the twelve analysts that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $51.14.

Several research firms have recently weighed in on MTH. Zacks Investment Research upgraded shares of Meritage Homes from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Bank of America upgraded shares of Meritage Homes from an “underperform” rating to a “neutral” rating in a research report on Wednesday. UBS Group restated a “neutral” rating and set a $57.00 price objective (up previously from $52.00) on shares of Meritage Homes in a research report on Wednesday, January 17th. ValuEngine upgraded shares of Meritage Homes from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Finally, Citigroup raised their price objective on shares of Meritage Homes from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, October 30th.

Meritage Homes (NYSE MTH) opened at $45.40 on Wednesday. Meritage Homes has a 12-month low of $33.50 and a 12-month high of $55.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.87. The firm has a market cap of $1,833.03, a PE ratio of 13.24, a PEG ratio of 0.67 and a beta of 1.29.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Thursday, February 1st. The construction company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.09. Meritage Homes had a net margin of 4.44% and a return on equity of 10.76%. The company had revenue of $946.40 million during the quarter, compared to analyst estimates of $932.94 million. During the same quarter last year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. sell-side analysts expect that Meritage Homes will post 5.06 earnings per share for the current year.

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

A number of hedge funds have recently bought and sold shares of MTH. Public Employees Retirement System of Ohio lifted its stake in Meritage Homes by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock valued at $123,000 after buying an additional 328 shares in the last quarter. Virtu Financial LLC purchased a new stake in Meritage Homes during the fourth quarter valued at about $240,000. Stifel Financial Corp purchased a new stake in Meritage Homes during the second quarter valued at about $250,000. Sei Investments Co. lifted its position in shares of Meritage Homes by 80.3% in the third quarter. Sei Investments Co. now owns 7,287 shares of the construction company’s stock worth $324,000 after purchasing an additional 3,245 shares in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Meritage Homes in the second quarter worth approximately $346,000. 96.01% of the stock is owned by institutional investors.

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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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