Analysts Set Meritage Homes Corp (NYSE:MTH) Price Target at $44.01

Meritage Homes Corp (NYSE:MTH) has been given a consensus recommendation of “Hold” by the thirteen research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $44.01.

MTH has been the subject of several recent research reports. Wedbush lowered their price objective on Meritage Homes from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. JPMorgan Chase & Co. lowered Meritage Homes from a “neutral” rating to an “underweight” rating and set a $36.00 price objective for the company. in a research report on Thursday, March 7th. Finally, Zelman & Associates raised Meritage Homes from a “hold” rating to a “buy” rating in a research report on Friday, April 12th.

In other news, CFO Hilla Sferruzza sold 5,300 shares of Meritage Homes stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $50.75, for a total value of $268,975.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Phillippe Lord sold 3,000 shares of Meritage Homes stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $50.75, for a total value of $152,250.00. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.



A number of large investors have recently modified their holdings of the business. BlackRock Inc. raised its position in Meritage Homes by 0.8% in the 4th quarter. BlackRock Inc. now owns 6,221,109 shares of the construction company’s stock worth $228,438,000 after buying an additional 52,149 shares during the last quarter. Macquarie Group Ltd. raised its position in Meritage Homes by 1.3% in the 1st quarter. Macquarie Group Ltd. now owns 1,906,442 shares of the construction company’s stock worth $85,237,000 after buying an additional 24,147 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Meritage Homes by 53.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,415 shares of the construction company’s stock worth $84,431,000 after buying an additional 653,934 shares during the last quarter. FMR LLC raised its position in Meritage Homes by 91.2% in the 4th quarter. FMR LLC now owns 1,037,323 shares of the construction company’s stock worth $38,091,000 after buying an additional 494,900 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Meritage Homes by 8.4% in the 4th quarter. Bank of New York Mellon Corp now owns 679,740 shares of the construction company’s stock worth $24,960,000 after buying an additional 52,653 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

NYSE:MTH traded up $0.13 during trading hours on Wednesday, hitting $51.71. The company had a trading volume of 152,200 shares, compared to its average volume of 394,613. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.75. The stock has a market cap of $1.99 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 1.13 and a beta of 1.12. Meritage Homes has a 52 week low of $32.02 and a 52 week high of $53.30.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Tuesday, April 23rd. The construction company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $699.00 million during the quarter, compared to analyst estimates of $636.66 million. Meritage Homes had a return on equity of 12.18% and a net margin of 6.00%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 earnings per share. On average, analysts expect that Meritage Homes will post 4.81 EPS for the current fiscal year.

Meritage Homes Company Profile

Meritage Homes Corporation 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. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.

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Analyst Recommendations for Meritage Homes (NYSE:MTH)

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