Meritage Homes (MTH) Rating Increased to Neutral at Bank of America

Meritage Homes (NYSE:MTH) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued on Wednesday, MarketBeat reports. The firm presently has a $55.00 price objective on the construction company’s stock. Bank of America’s price target would indicate a potential upside of 17.90% from the stock’s previous close.

MTH has been the topic of a number of other research reports. UBS Group assumed coverage on shares of Meritage Homes in a research note on Wednesday, October 25th. They set a “neutral” rating and a $52.00 target price on the stock. Zacks Investment Research raised shares of Meritage Homes from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Thursday, February 1st. ValuEngine raised shares of Meritage Homes from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. JMP Securities boosted their price objective on shares of Meritage Homes from $55.00 to $57.00 and gave the stock a “market outperform” rating in a research note on Friday, February 2nd. Finally, Barclays raised shares of Meritage Homes from an “underweight” rating to an “equal weight” rating in a research note on Friday, February 2nd. Six 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 stock. The company has an average rating of “Buy” and an average price target of $50.11.

Meritage Homes (NYSE MTH) traded up $1.25 during midday trading on Wednesday, hitting $46.65. 269,494 shares of the company’s stock were exchanged, compared to its average volume of 467,760. The company has a market capitalization of $1,880.00, a PE ratio of 13.64, a PEG ratio of 0.67 and a beta of 1.29. Meritage Homes has a 12-month low of $33.50 and a 12-month high of $55.50. The company has a current ratio of 0.87, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81.

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

In other Meritage Homes news, EVP Javier Feliciano sold 1,009 shares of the company’s 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Hilla Sferruzza sold 589 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $45.20, for a total transaction of $26,622.80. The disclosure for this sale can be found here. In the last three months, insiders sold 21,468 shares of company stock worth $1,023,857. 5.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its position 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 acquiring an additional 328 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Meritage Homes by 1.9% during the second quarter. UBS Asset Management Americas Inc. now owns 23,005 shares of the construction company’s stock valued at $971,000 after acquiring an additional 419 shares during the last quarter. California Public Employees Retirement System boosted its position in Meritage Homes by 2.2% during the second quarter. California Public Employees Retirement System now owns 50,300 shares of the construction company’s stock valued at $2,123,000 after acquiring an additional 1,100 shares during the last quarter. Aperio Group LLC boosted its position in Meritage Homes by 4.7% during the third quarter. Aperio Group LLC now owns 26,873 shares of the construction company’s stock valued at $1,193,000 after acquiring an additional 1,195 shares during the last quarter. Finally, Connable Office Inc. boosted its position in Meritage Homes by 23.2% during the fourth quarter. Connable Office Inc. now owns 7,482 shares of the construction company’s stock valued at $383,000 after acquiring an additional 1,407 shares during the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

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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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