Meritage Homes Corp (MTH) Receives $44.01 Consensus Price Target from Analysts

Meritage Homes Corp (NYSE:MTH) has been given an average rating of “Hold” by the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $44.01.

MTH has been the topic of several recent analyst reports. ValuEngine lowered Meritage Homes from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Citigroup lowered Meritage Homes from a “buy” rating to a “neutral” rating and increased their target price for the company from $45.00 to $50.00 in a report on Friday, February 1st. They noted that the move was a valuation call. Zelman & Associates raised Meritage Homes from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $47.00 target price on shares of Meritage Homes in a report on Thursday, January 31st. Finally, JMP Securities lowered Meritage Homes from an “outperform” rating to a “market perform” rating and set a $45.08 target price on the stock. in a report on Friday, February 1st.

In other Meritage Homes news, CFO Hilla Sferruzza sold 9,310 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $43.40, for a total value of $404,054.00. Following the completion of the transaction, the chief financial officer now owns 30,377 shares in the company, valued at $1,318,361.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Phillippe Lord sold 16,977 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $43.40, for a total transaction of $736,801.80. Following the completion of the transaction, the insider now owns 35,394 shares of the company’s stock, valued at approximately $1,536,099.60. The disclosure for this sale can be found here. Insiders sold 77,124 shares of company stock valued at $3,409,550 in the last 90 days. 6.10% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of Meritage Homes by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 14,549 shares of the construction company’s stock worth $650,000 after buying an additional 263 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Meritage Homes by 11.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,943 shares of the construction company’s stock worth $108,000 after buying an additional 304 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Meritage Homes by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 10,079 shares of the construction company’s stock worth $370,000 after buying an additional 395 shares during the period. Virginia Retirement Systems ET AL boosted its stake in shares of Meritage Homes by 2.8% during the fourth quarter. Virginia Retirement Systems ET AL now owns 14,900 shares of the construction company’s stock worth $547,000 after buying an additional 400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Meritage Homes by 18.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,068 shares of the construction company’s stock worth $137,000 after buying an additional 481 shares during the period. Institutional investors and hedge funds own 98.83% of the company’s stock.

Shares of Meritage Homes stock traded up $0.28 during trading hours on Friday, reaching $52.65. 365,398 shares of the company were exchanged, compared to its average volume of 419,642. Meritage Homes has a 1 year low of $32.02 and a 1 year high of $53.30. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $1.96 billion, a P/E ratio of 9.44, a P/E/G ratio of 1.12 and a beta of 1.19.

Meritage Homes (NYSE:MTH) last posted its earnings results 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 firm had revenue of $699.00 million for 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%. Meritage Homes’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 earnings per share. Sell-side analysts predict that Meritage Homes will post 4.8 earnings per share for the current 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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