Meritage Homes Corp (MTH) Receives $47.80 Average Price Target from Brokerages

Shares of Meritage Homes Corp (NYSE:MTH) have earned an average rating of “Hold” from the fifteen brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $46.50.

Several research firms have weighed in on MTH. ValuEngine upgraded shares of Meritage Homes from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Meritage Homes from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Wedbush lowered shares of Meritage Homes from an “outperform” rating to a “neutral” rating and set a $41.00 target price for the company. in a research note on Thursday. They noted that the move was a valuation call. Citigroup decreased their target price on shares of Meritage Homes from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, January 4th. Finally, JMP Securities set a $47.00 target price on shares of Meritage Homes and gave the company a “buy” rating in a research note on Friday, October 26th.

Meritage Homes stock traded down $0.40 during mid-day trading on Friday, hitting $41.36. The company’s stock had a trading volume of 16,163 shares, compared to its average volume of 424,775. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 0.66 and a beta of 0.91. Meritage Homes has a twelve month low of $32.02 and a twelve month high of $53.55.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Wednesday, October 24th. The construction company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.03). Meritage Homes had a return on equity of 12.56% and a net margin of 5.43%. The firm had revenue of $884.58 million for the quarter, compared to analysts’ expectations of $899.55 million. As a group, equities analysts predict that Meritage Homes will post 5.17 EPS for the current fiscal year.

In related news, Director Dana Bradford bought 1,500 shares of Meritage Homes stock in a transaction dated Tuesday, November 6th. The shares were bought at an average cost of $37.70 per share, for a total transaction of $56,550.00. Following the completion of the transaction, the director now owns 54,500 shares of the company’s stock, valued at $2,054,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Javier Feliciano sold 946 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $36.66, for a total transaction of $34,680.36. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in Meritage Homes by 46.0% in the second quarter. PNC Financial Services Group Inc. now owns 3,987 shares of the construction company’s stock valued at $175,000 after purchasing an additional 1,256 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in Meritage Homes by 27.6% in the third quarter. Riverhead Capital Management LLC now owns 6,469 shares of the construction company’s stock valued at $258,000 after acquiring an additional 1,400 shares during the last quarter. Alpha Windward LLC lifted its stake in Meritage Homes by 13.3% in the third quarter. Alpha Windward LLC now owns 12,780 shares of the construction company’s stock valued at $510,000 after acquiring an additional 1,500 shares during the last quarter. IndexIQ Advisors LLC lifted its stake in Meritage Homes by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 50,237 shares of the construction company’s stock valued at $2,004,000 after acquiring an additional 1,898 shares during the last quarter. Finally, Laurion Capital Management LP lifted its stake in shares of Meritage Homes by 23.3% during the 2nd quarter. Laurion Capital Management LP now owns 10,577 shares of the construction company’s stock worth $465,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 96.50% of the company’s stock.

About Meritage Homes

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 various homebuyers, including first-time, move-up, active-adult, and luxury homes under the Meritage Homes brand name.

Further Reading: Systematic Risk

Analyst Recommendations for Meritage Homes (NYSE:MTH)

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