ValuEngine upgraded shares of Meritage Homes (NYSE:MTH) from a sell rating to a hold rating in a report published on Wednesday.

A number of other equities research analysts have also commented on MTH. JPMorgan Chase & Co. lowered shares of Meritage Homes from an overweight rating to a neutral rating and lowered their price target for the company from $55.00 to $46.00 in a report on Friday, September 21st. Zacks Investment Research downgraded shares of Meritage Homes from a hold rating to a sell rating in a research report on Wednesday, October 10th. Bank of America set a $51.00 price objective on shares of Meritage Homes and gave the company a buy rating in a research report on Thursday, October 11th. JMP Securities reissued a buy rating and set a $48.00 price objective (down from $58.00) on shares of Meritage Homes in a research report on Thursday, October 11th. Finally, Credit Suisse Group reissued a neutral rating and set a $36.00 price objective (down from $50.00) on shares of Meritage Homes in a research report on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $46.55.

NYSE:MTH opened at $41.35 on Wednesday. Meritage Homes has a 52 week low of $32.02 and a 52 week high of $53.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $1.68 billion, a P/E ratio of 10.66, a PEG ratio of 0.66 and a beta of 0.91.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Wednesday, October 24th. The construction company reported $1.33 EPS for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.03). Meritage Homes had a net margin of 5.43% and a return on equity of 12.56%. The firm had revenue of $884.58 million for the quarter, compared to the consensus estimate of $899.55 million. Equities research analysts expect that Meritage Homes will post 5.17 EPS for the current fiscal year.

In other news, Director Dana Bradford acquired 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were bought at an average cost of $37.70 per share, with a total value of $56,550.00. Following the transaction, the director now owns 54,500 shares of the company’s stock, valued at approximately $2,054,650. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Javier Feliciano sold 946 shares of the stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $36.66, for a total transaction of $34,680.36. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Meritage Homes by 3.0% during the 3rd quarter. BlackRock Inc. now owns 6,168,960 shares of the construction company’s stock valued at $246,139,000 after purchasing an additional 180,308 shares during the last quarter. Vanguard Group Inc. lifted its stake in Meritage Homes by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,771,037 shares of the construction company’s stock valued at $150,464,000 after acquiring an additional 95,924 shares during the period. Vanguard Group Inc lifted its stake in Meritage Homes by 2.6% during the 3rd quarter. Vanguard Group Inc now owns 3,771,037 shares of the construction company’s stock valued at $150,464,000 after acquiring an additional 95,924 shares during the period. Macquarie Group Ltd. lifted its stake in Meritage Homes by 1.4% during the 3rd quarter. Macquarie Group Ltd. now owns 1,838,035 shares of the construction company’s stock valued at $73,338,000 after acquiring an additional 24,528 shares during the period. Finally, Prudential Financial Inc. lifted its stake in Meritage Homes by 36.8% during the 3rd quarter. Prudential Financial Inc. now owns 1,005,958 shares of the construction company’s stock valued at $40,138,000 after acquiring an additional 270,763 shares during the period. 96.50% of the stock is currently owned by institutional investors.

Meritage Homes Company Profile

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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Analyst Recommendations for Meritage Homes (NYSE:MTH)

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