Meritage Homes (NYSE:MTH – Get Free Report) had its price objective decreased by equities research analysts at Truist Financial from $72.00 to $65.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the construction company’s stock. Truist Financial‘s target price would indicate a potential upside of 1.58% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Zacks Research cut shares of Meritage Homes from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 8th. Wall Street Zen raised shares of Meritage Homes from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Zelman & Associates downgraded Meritage Homes from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 7th. Melius Research began coverage on shares of Meritage Homes in a research report on Tuesday, October 6th. They set a “sell” rating and a $59.00 price objective on the stock. Finally, Evercore set a $65.00 target price on shares of Meritage Homes in a research report on Friday, September 25th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Meritage Homes currently has an average rating of “Hold” and an average target price of $72.78.
Read Our Latest Stock Analysis on MTH
Meritage Homes Stock Down 0.8%
NYSE MTH traded down $0.50 during mid-day trading on Friday, reaching $63.99. 408,714 shares of the company’s stock traded hands, compared to its average volume of 937,004. The company has a fifty day simple moving average of $64.42 and a 200-day simple moving average of $69.08. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 4.65 and a beta of 1.33. Meritage Homes has a 1-year low of $56.66 and a 1-year high of $85.38. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37.
Meritage Homes (NYSE:MTH – Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The construction company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.06). Meritage Homes had a return on equity of 6.67% and a net margin of 5.79%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business posted $1.39 EPS. The business’s revenue for the quarter was down 17.5% on a year-over-year basis. As a group, equities research analysts expect that Meritage Homes will post 4.93 EPS for the current year.
Institutional Trading of Meritage Homes
Several hedge funds have recently bought and sold shares of the stock. Ceredex Value Advisors LLC bought a new position in Meritage Homes during the 2nd quarter worth about $12,540,000. Empowered Funds LLC bought a new position in Meritage Homes during the second quarter worth $2,207,000. Weiss Asset Management LP acquired a new stake in Meritage Homes during the first quarter worth approximately $916,000. The Manufacturers Life Insurance Company bought a new position in Meritage Homes during the 2nd quarter worth $2,953,000. Finally, D L Carlson Investment Group Inc. bought a new position in shares of Meritage Homes during the second quarter worth approximately $3,014,000. 98.44% of the stock is currently owned by institutional investors and hedge funds.
Meritage Homes Company Profile
Meritage Homes Corporation is a residential construction company that designs and builds single-family homes in the United States. The company primarily serves entry-level and first-time homebuyers, offering homes in a range of floor plans and communities designed around affordability, energy efficiency and modern features.
Meritage Homes sells homes through its own communities and provides related services, including land acquisition and development, home design, construction, sales and customer support.
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