Meritage Homes (MTH) Earns “Neutral” Rating from UBS Group

UBS Group reissued their neutral rating on shares of Meritage Homes (NYSE:MTH) in a research report sent to investors on Wednesday, 99wallstreet.com reports. They currently have a $57.00 price target on the construction company’s stock, up from their previous price target of $52.00.

Other equities research analysts have also issued research reports about the company. Citigroup raised Meritage Homes from a neutral rating to a buy rating and set a $51.00 target price for the company in a research note on Monday, January 8th. Zacks Investment Research upgraded Meritage Homes from a sell rating to a hold rating in a report on Wednesday, January 10th. Finally, ValuEngine upgraded Meritage Homes from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $43.70.

Meritage Homes (NYSE:MTH) traded up $0.45 during midday trading on Wednesday, hitting $52.15. The stock had a trading volume of 298,626 shares, compared to its average volume of 363,056. Meritage Homes has a 12 month low of $33.40 and a 12 month high of $55.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $2,103.00, a price-to-earnings ratio of 13.80, a PEG ratio of 0.94 and a beta of 1.54.

Meritage Homes (NYSE:MTH) last released its earnings results on Friday, October 27th. The construction company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.09. Meritage Homes had a return on equity of 10.81% and a net margin of 5.04%. The company had revenue of $805.60 million during the quarter, compared to analyst estimates of $827.40 million. During the same quarter in the previous year, the company posted $0.88 EPS. Meritage Homes’s revenue for the quarter was up 7.0% on a year-over-year basis. sell-side analysts anticipate that Meritage Homes will post 3.8 earnings per share for the current year.

In related news, EVP Javier Feliciano sold 1,009 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total transaction of $35,869.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Gary Sarver sold 12,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $50.47, for a total value of $605,640.00. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings 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 during the period. Earnest Partners LLC grew its holdings in shares of Meritage Homes by 2.2% during the 3rd quarter. Earnest Partners LLC now owns 1,752,837 shares of the construction company’s stock worth $77,826,000 after acquiring an additional 37,201 shares during the period. Macquarie Group Ltd. grew its holdings in shares of Meritage Homes by 7.4% during the 3rd quarter. Macquarie Group Ltd. now owns 1,720,615 shares of the construction company’s stock worth $76,395,000 after acquiring an additional 118,335 shares during the period. State Street Corp grew its holdings in shares of Meritage Homes by 4.0% during the 2nd quarter. State Street Corp now owns 971,730 shares of the construction company’s stock worth $41,009,000 after acquiring an additional 37,121 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Meritage Homes by 2.0% during the 2nd quarter. Northern Trust Corp now owns 856,002 shares of the construction company’s stock worth $36,123,000 after acquiring an additional 16,574 shares during the period.

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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.

Analyst Recommendations for Meritage Homes (NYSE:MTH)

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