ValuEngine Upgrades Meritage Homes (MTH) to Strong-Buy

ValuEngine upgraded shares of Meritage Homes (NYSE:MTH) from a buy rating to a strong-buy rating in a research note published on Sunday.

MTH has been the subject of a number of other research reports. UBS Group initiated coverage on shares of Meritage Homes in a research report on Wednesday, October 25th. They set a neutral rating and a $52.00 target price for the company. Citigroup lifted their target price on shares of Meritage Homes from $46.00 to $51.00 and gave the stock a neutral rating in a research report on Monday, October 30th. Finally, Zacks Investment Research cut shares of Meritage Homes from a buy rating to a hold rating in a research report on Tuesday, September 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $43.20.

Meritage Homes (NYSE MTH) traded up $1.65 during mid-day trading on Friday, reaching $54.15. 593,600 shares of the company were exchanged, compared to its average volume of 491,250. The stock has a market capitalization of $2,117.12, a P/E ratio of 14.33, a P/E/G ratio of 1.24 and a beta of 1.54. Meritage Homes has a 52-week low of $33.40 and a 52-week high of $55.50. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

Meritage Homes (NYSE:MTH) last announced its earnings results on Friday, October 27th. The construction company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.09. The company had revenue of $805.60 million during the quarter, compared to analysts’ expectations of $827.40 million. Meritage Homes had a net margin of 5.04% and a return on equity of 10.81%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. analysts predict that Meritage Homes will post 3.8 earnings per share for the current year.

In other news, Director Robert Gary Sarver sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $50.47, for a total value of $605,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Javier Feliciano sold 1,009 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total transaction of $35,869.95. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in Meritage Homes by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock worth $123,000 after purchasing an additional 328 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Meritage Homes by 1.9% during the second quarter. UBS Asset Management Americas Inc. now owns 23,005 shares of the construction company’s stock worth $971,000 after purchasing an additional 419 shares during the last quarter. Victory Capital Management Inc. increased its position in Meritage Homes by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,066 shares of the construction company’s stock worth $172,000 after purchasing an additional 609 shares during the last quarter. California Public Employees Retirement System increased its position in Meritage Homes by 2.2% during the second quarter. California Public Employees Retirement System now owns 50,300 shares of the construction company’s stock worth $2,123,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Aperio Group LLC increased its position in Meritage Homes by 4.7% during the third quarter. Aperio Group LLC now owns 26,873 shares of the construction company’s stock worth $1,193,000 after purchasing an additional 1,195 shares during the last quarter. 98.20% of the stock is owned by institutional investors and hedge funds.

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Meritage Homes Company Profile

Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Meritage Homes (NYSE:MTH)

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