The Goldman Sachs Group Trims Meritage Homes (NYSE:MTH) Target Price to $83.00

Meritage Homes (NYSE:MTHGet Rating) had its price objective decreased by investment analysts at The Goldman Sachs Group from $100.00 to $83.00 in a research report issued on Thursday, Stock Target Advisor reports. The brokerage presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 15.66% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. TheStreet cut shares of Meritage Homes from a “b-” rating to a “c” rating in a research report on Wednesday, April 27th. UBS Group lowered their price objective on shares of Meritage Homes from $156.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Credit Suisse Group initiated coverage on shares of Meritage Homes in a research note on Tuesday, April 5th. They set an “outperform” rating and a $103.00 price objective on the stock. Wolfe Research lowered shares of Meritage Homes from an “outperform” rating to a “market perform” rating in a research note on Friday, May 13th. Finally, StockNews.com lowered shares of Meritage Homes from a “buy” rating to a “hold” rating in a research note on Friday, June 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $110.25.

MTH traded up $5.55 during trading on Thursday, reaching $71.76. 11,883 shares of the company’s stock were exchanged, compared to its average volume of 365,988. The firm has a market capitalization of $2.63 billion, a PE ratio of 3.31 and a beta of 1.55. Meritage Homes has a fifty-two week low of $62.51 and a fifty-two week high of $125.01. The company’s fifty day moving average price is $80.58 and its 200-day moving average price is $93.52. 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:MTHGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The construction company reported $5.79 EPS for the quarter, topping the consensus estimate of $4.68 by $1.11. Meritage Homes had a net margin of 15.40% and a return on equity of 28.21%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm posted $3.44 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. Research analysts forecast that Meritage Homes will post 27.52 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of MTH. Goldman Sachs Group Inc. lifted its stake in Meritage Homes by 32.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 909,181 shares of the construction company’s stock valued at $110,975,000 after purchasing an additional 220,667 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Meritage Homes by 17.3% in the 1st quarter. Bank of New York Mellon Corp now owns 746,899 shares of the construction company’s stock valued at $59,177,000 after purchasing an additional 110,231 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Meritage Homes by 59.2% in the 4th quarter. Allianz Asset Management GmbH now owns 264,406 shares of the construction company’s stock valued at $32,273,000 after purchasing an additional 98,344 shares during the last quarter. Walleye Capital LLC acquired a new position in Meritage Homes in the 4th quarter valued at approximately $11,281,000. Finally, GRS Advisors LLC increased its position in Meritage Homes by 482.7% in the 1st quarter. GRS Advisors LLC now owns 104,880 shares of the construction company’s stock valued at $8,310,000 after acquiring an additional 86,880 shares during the period. 97.11% of the stock is owned by institutional investors and hedge funds.

Meritage Homes Company Profile (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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