Meritage Homes (NYSE:MTH – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.
Several other analysts have also commented on MTH. Keefe, Bruyette & Woods dropped their price target on shares of Meritage Homes from $78.00 to $76.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Meritage Homes from $62.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, April 28th. Bank of America dropped their target price on Meritage Homes from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. Truist Financial set a $80.00 price target on Meritage Homes and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, UBS Group set a $86.00 price objective on Meritage Homes and gave the company a “buy” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Meritage Homes currently has a consensus rating of “Hold” and an average price target of $79.89.
Check Out Our Latest Stock Analysis on MTH
Meritage Homes Stock Up 0.1%
Meritage Homes (NYSE:MTH – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.12). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Meritage Homes had a return on equity of 8.08% and a net margin of 6.86%.The company’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.69 EPS. As a group, sell-side analysts expect that Meritage Homes will post 5 EPS for the current year.
Insider Transactions at Meritage Homes
In related news, CEO Phillippe Lord sold 32,820 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $76.49, for a total value of $2,510,401.80. Following the completion of the transaction, the chief executive officer directly owned 260,389 shares of the company’s stock, valued at approximately $19,917,154.61. This represents a 11.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alison Sasser sold 1,273 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $62.11, for a total value of $79,066.03. Following the completion of the transaction, the chief accounting officer owned 7,634 shares in the company, valued at $474,147.74. The trade was a 14.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,895 shares of company stock valued at $3,719,339 over the last ninety days. Company insiders own 2.50% of the company’s stock.
Hedge Funds Weigh In On Meritage Homes
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its holdings in Meritage Homes by 134.3% in the 1st quarter. Royal Bank of Canada now owns 38,658 shares of the construction company’s stock valued at $2,740,000 after acquiring an additional 22,162 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Meritage Homes by 51.7% during the 1st quarter. AQR Capital Management LLC now owns 12,937 shares of the construction company’s stock worth $917,000 after purchasing an additional 4,407 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Meritage Homes by 58.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,058,850 shares of the construction company’s stock valued at $75,051,000 after purchasing an additional 391,297 shares in the last quarter. Empowered Funds LLC grew its position in shares of Meritage Homes by 111.0% in the first quarter. Empowered Funds LLC now owns 32,971 shares of the construction company’s stock valued at $2,337,000 after purchasing an additional 17,343 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Meritage Homes by 102.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,150 shares of the construction company’s stock valued at $22,621,000 after purchasing an additional 161,806 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors and hedge funds.
Meritage Homes News Roundup
Here are the key news stories impacting Meritage Homes this week:
- Negative Sentiment: Zacks Research cut earnings estimates across multiple future periods for Meritage Homes, including Q1 2027, Q2 2027, Q3 2027, Q4 2027, FY2027, and FY2028, while keeping a Strong Sell rating. Article Title
- Negative Sentiment: Zacks also published a bearish “Bear of the Day” note, saying the company’s post-earnings estimate cuts since its April 22 report justify a Zacks Rank #5 outlook. Article Title
- Negative Sentiment: Insider selling added to the cautious tone, as CAO Alison Sasser sold 1,273 shares in a disclosed SEC filing, reducing her position by 14.29%.
- Neutral Sentiment: The company’s most recent earnings report was already weak, with EPS of $0.86 missing estimates and revenue of $1.12 billion coming in well below expectations, which continues to weigh on investor sentiment.
About Meritage Homes
Meritage Homes Corporation is a national homebuilder and residential developer headquartered in Scottsdale, Arizona. Founded in 1985 as Winchester Homes and later rebranded to Meritage Homes, the company specializes in designing, constructing and selling single‐family detached and attached homes. With a focus on energy efficiency and sustainable building practices, Meritage Homes markets its properties under the GreenSmart program, which integrates high‐performance features aimed at reducing long‐term energy and water consumption for homebuyers.
The company’s core activities encompass land acquisition, residential community planning, home design, construction management and real estate sales.
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