StockNews.com lowered shares of Meritage Homes (NYSE:MTH – Get Rating) from a buy rating to a hold rating in a report released on Friday.
Other analysts have also issued research reports about the stock. The Goldman Sachs Group lowered their target price on shares of Meritage Homes from $114.00 to $92.00 and set a neutral rating for the company in a research note on Tuesday, April 12th. JPMorgan Chase & Co. lowered their price objective on shares of Meritage Homes from $111.00 to $89.00 and set a neutral rating for the company in a research report on Wednesday, April 13th. 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 report on Friday. Credit Suisse Group assumed coverage on Meritage Homes in a report on Tuesday, April 5th. They set an outperform rating and a $103.00 target price for the company. Finally, UBS Group dropped their price target on Meritage Homes from $156.00 to $110.00 and set a buy rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Meritage Homes presently has an average rating of Hold and an average target price of $111.38.
Shares of Meritage Homes stock opened at $65.79 on Friday. The firm has a market cap of $2.41 billion, a PE ratio of 3.04 and a beta of 1.55. Meritage Homes has a 1 year low of $62.51 and a 1 year high of $125.01. The firm’s 50-day simple moving average is $81.44 and its 200-day simple moving average is $94.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.07.
Meritage Homes (NYSE:MTH – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The construction company reported $5.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.68 by $1.11. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Meritage Homes had a return on equity of 28.21% and a net margin of 15.40%. Meritage Homes’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.44 earnings per share. On average, equities analysts predict that Meritage Homes will post 27.52 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Byrne Asset Management LLC bought a new position in shares of Meritage Homes during the fourth quarter worth about $28,000. Archer Investment Corp bought a new position in shares of Meritage Homes during the first quarter worth about $40,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Meritage Homes by 45.3% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 388 shares of the construction company’s stock valued at $47,000 after buying an additional 121 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Meritage Homes by 103.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 597 shares of the construction company’s stock valued at $47,000 after buying an additional 304 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Meritage Homes in the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 97.11% of the company’s stock.
About Meritage Homes (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.
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