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.
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.
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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