Brokerages Set Meritage Homes Co. (NYSE:MTH) PT at $97.72

Meritage Homes Co. (NYSE:MTH) has received an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $97.72.

Several analysts recently issued reports on MTH shares. Wedbush restated a “neutral” rating and issued a $103.00 price objective on shares of Meritage Homes in a report on Tuesday, February 4th. Bank of America assumed coverage on shares of Meritage Homes in a research report on Monday, May 5th. They set a “buy” rating and a $82.00 price target for the company. Seaport Res Ptn upgraded shares of Meritage Homes from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. UBS Group set a $107.00 price objective on shares of Meritage Homes in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Meritage Homes from $89.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, May 1st.

Meritage Homes Stock Performance

Meritage Homes stock opened at $64.10 on Monday. The firm has a 50 day simple moving average of $67.97 and a 200-day simple moving average of $77.80. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 4.90 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.75. Meritage Homes has a 1-year low of $59.27 and a 1-year high of $106.99.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.69 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.02). Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the company posted $5.06 earnings per share. The company’s revenue was down 8.5% on a year-over-year basis. On average, analysts expect that Meritage Homes will post 9.44 EPS for the current year.

Institutional Trading of Meritage Homes

Large investors have recently modified their holdings of the stock. Salem Investment Counselors Inc. raised its holdings in Meritage Homes by 100.0% in the first quarter. Salem Investment Counselors Inc. now owns 380 shares of the construction company’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Pinnacle Holdings LLC acquired a new stake in shares of Meritage Homes in the 4th quarter valued at $31,000. Allworth Financial LP raised its holdings in shares of Meritage Homes by 545.5% in the 4th quarter. Allworth Financial LP now owns 213 shares of the construction company’s stock valued at $33,000 after purchasing an additional 180 shares in the last quarter. Assetmark Inc. lifted its position in shares of Meritage Homes by 166.5% during the 1st quarter. Assetmark Inc. now owns 581 shares of the construction company’s stock worth $41,000 after purchasing an additional 363 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Meritage Homes by 77.7% during the first quarter. Versant Capital Management Inc now owns 606 shares of the construction company’s stock worth $43,000 after purchasing an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Meritage Homes Company Profile

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached 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 entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.