Meritage Homes (MTH) Raised to “Sell” at ValuEngine

ValuEngine upgraded shares of Meritage Homes (NYSE:MTH) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday.

A number of other research firms have also recently commented on MTH. Wedbush lowered their target price on Meritage Homes from $55.00 to $54.00 and set a buy rating for the company in a research note on Friday, July 27th. Credit Suisse Group lowered their target price on Meritage Homes from $53.00 to $50.00 and set an outperform rating for the company in a research note on Thursday, July 26th. Wells Fargo & Co lowered their target price on Meritage Homes from $57.00 to $49.00 and set a market perform rating for the company in a research note on Friday, July 27th. Zacks Investment Research upgraded Meritage Homes from a hold rating to a buy rating and set a $47.00 target price for the company in a research note on Tuesday, August 14th. Finally, Bank of America set a $51.00 price objective on Meritage Homes and gave the company a buy rating in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $48.64.

MTH opened at $38.14 on Wednesday. The company has a market capitalization of $1.52 billion, a PE ratio of 9.83, a PEG ratio of 0.47 and a beta of 1.02. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.81. Meritage Homes has a 52 week low of $32.02 and a 52 week high of $55.50.

Meritage Homes (NYSE:MTH) last released its 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). The firm had revenue of $884.58 million during the quarter, compared to analysts’ expectations of $899.55 million. Meritage Homes had a net margin of 5.43% and a return on equity of 12.56%. As a group, research analysts expect that Meritage Homes will post 5.53 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Meritage Homes by 5.5% during the second quarter. BlackRock Inc. now owns 5,988,652 shares of the construction company’s stock valued at $263,202,000 after buying an additional 311,283 shares during the last quarter. Macquarie Group Ltd. raised its stake in Meritage Homes by 15.5% during the second quarter. Macquarie Group Ltd. now owns 1,813,507 shares of the construction company’s stock valued at $79,704,000 after buying an additional 242,916 shares during the last quarter. Northern Trust Corp raised its stake in Meritage Homes by 1.5% during the second quarter. Northern Trust Corp now owns 858,478 shares of the construction company’s stock valued at $37,730,000 after buying an additional 12,533 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Meritage Homes by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 632,556 shares of the construction company’s stock valued at $27,801,000 after buying an additional 13,614 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Meritage Homes by 10.5% during the second quarter. Wells Fargo & Company MN now owns 374,845 shares of the construction company’s stock valued at $16,474,000 after buying an additional 35,468 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

About Meritage Homes

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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