ValuEngine upgraded shares of Meritage Homes (NYSE:MTH) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
Several other equities analysts have also recently issued reports on MTH. Citigroup initiated coverage on shares of Meritage Homes in a research note on Tuesday, June 19th. They set a buy rating and a $55.00 target price on the stock. Zacks Investment Research cut shares of Meritage Homes from a buy rating to a hold rating in a research note on Monday, July 9th. Credit Suisse Group lowered their target price on shares of Meritage Homes from $53.00 to $50.00 and set an outperform rating on the stock in a research note on Thursday, July 26th. Wedbush lowered their target price on shares of Meritage Homes from $55.00 to $54.00 and set a buy rating on the stock in a research note on Friday, July 27th. Finally, Wells Fargo & Co lowered their target price on shares of Meritage Homes from $57.00 to $49.00 and set a market perform rating on the stock in a research note on Friday, July 27th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $53.30.
MTH opened at $45.00 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 0.52 and a beta of 1.07. Meritage Homes has a 52-week low of $39.75 and a 52-week high of $55.50.
Meritage Homes (NYSE:MTH) last posted its earnings results on Wednesday, July 25th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.21. The business had revenue of $877.50 million for the quarter, compared to analysts’ expectations of $825.47 million. Meritage Homes had a net margin of 5.21% and a return on equity of 12.17%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. analysts expect that Meritage Homes will post 5.67 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC purchased a new stake in shares of Meritage Homes during the 1st quarter valued at about $104,000. PNC Financial Services Group Inc. increased its position in shares of Meritage Homes by 46.0% during the 2nd 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 during the last quarter. Cornerstone Wealth Management LLC purchased a new stake in shares of Meritage Homes during the 2nd quarter valued at about $205,000. Paloma Partners Management Co purchased a new stake in shares of Meritage Homes during the 2nd quarter valued at about $232,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Meritage Homes during the 2nd quarter valued at about $252,000. 93.64% of the stock is owned by hedge funds and other institutional investors.
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.
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