Meritage Homes (NYSE:MTH) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a report released on Monday, The Fly reports.
MTH has been the topic of several other research reports. UBS Group assumed coverage on 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 lowered Meritage Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Finally, ValuEngine raised Meritage Homes from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $43.20.
Meritage Homes (MTH) opened at $53.65 on Monday. Meritage Homes has a 12 month low of $33.40 and a 12 month high of $55.50. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $2,163.49, a PE ratio of 14.19, a P/E/G ratio of 1.27 and a beta of 1.54.
In other Meritage Homes news, Director Robert Gary Sarver sold 12,000 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $50.47, for a total value of $605,640.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Javier Feliciano sold 1,009 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total value of $35,869.95. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of MTH. FMR LLC raised its position in shares of Meritage Homes by 0.3% during the 4th quarter. FMR LLC now owns 6,003,680 shares of the construction company’s stock worth $208,928,000 after acquiring an additional 17,200 shares in the last quarter. BlackRock Inc. raised its position in shares of Meritage Homes by 53,081.0% during the 1st quarter. BlackRock Inc. now owns 5,361,172 shares of the construction company’s stock worth $197,292,000 after acquiring an additional 5,351,091 shares in the last quarter. Sanders Capital LLC raised its position in shares of Meritage Homes by 7.3% during the 4th quarter. Sanders Capital LLC now owns 3,511,446 shares of the construction company’s stock worth $123,164,000 after acquiring an additional 238,900 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Meritage Homes by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,398,994 shares of the construction company’s stock worth $127,597,000 after acquiring an additional 15,397 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Meritage Homes by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,334,402 shares of the construction company’s stock worth $140,712,000 after acquiring an additional 37,025 shares in the last quarter. 98.20% of the stock is currently owned by institutional investors.
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.
