Brokerages Set Meritage Homes Co. (NYSE:MTH) Price Target at $103.17

Meritage Homes Co. (NYSE:MTHGet Rating) has earned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $103.17.

MTH has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their price target on Meritage Homes from $100.00 to $83.00 and set a “neutral” rating on the stock in a research report on Thursday, June 23rd. JPMorgan Chase & Co. dropped their target price on shares of Meritage Homes from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Tuesday, July 12th. UBS Group increased their price objective on shares of Meritage Homes from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 29th. StockNews.com cut shares of Meritage Homes from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Wells Fargo & Company cut shares of Meritage Homes from an “equal weight” rating to an “underweight” rating and set a $65.00 target price on the stock. in a research report on Friday, June 17th.

Insider Buying and Selling

In other Meritage Homes news, CAO Alison Sasser sold 1,000 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $87.92, for a total value of $87,920.00. Following the transaction, the chief accounting officer now directly owns 1,443 shares in the company, valued at approximately $126,868.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Meritage Homes

Several large investors have recently added to or reduced their stakes in the business. Byrne Asset Management LLC acquired a new position in shares of Meritage Homes in the 4th quarter valued at $28,000. Archer Investment Corp purchased a new position in Meritage Homes during the 1st quarter valued at about $40,000. Exchange Traded Concepts LLC boosted its stake in shares of Meritage Homes by 103.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 597 shares of the construction company’s stock worth $47,000 after purchasing an additional 304 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Meritage Homes during the 1st quarter worth about $48,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Meritage Homes by 71.2% in the second quarter. Quadrant Capital Group LLC now owns 647 shares of the construction company’s stock worth $47,000 after acquiring an additional 269 shares during the last quarter. 96.40% of the stock is owned by hedge funds and other institutional investors.

Meritage Homes Trading Up 2.4 %

Shares of MTH stock opened at $76.05 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.74 and a current ratio of 0.74. Meritage Homes has a 52-week low of $62.51 and a 52-week high of $125.01. The company has a market capitalization of $2.78 billion, a PE ratio of 3.16 and a beta of 1.63. The business’s fifty day moving average is $82.48 and its 200 day moving average is $82.16.

Meritage Homes (NYSE:MTHGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The construction company reported $6.77 EPS for the quarter, topping the consensus estimate of $5.86 by $0.91. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.38 billion. Meritage Homes had a return on equity of 29.09% and a net margin of 16.53%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.36 earnings per share. On average, equities research analysts anticipate that Meritage Homes will post 26.41 EPS for the current fiscal year.

Meritage Homes Company Profile

(Get Rating)

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for first-time and first move-up buyers.

See Also

Analyst Recommendations for Meritage Homes (NYSE:MTH)

Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.