Evercore ISI assumed coverage on shares of Meritage Homes Corp. (NYSE:MTH) in a report published on Monday morning. The firm issued a buy rating on the stock.

Several other analysts have also recently issued reports on MTH. FBR & Co upped their price objective on Meritage Homes Corp. from $36.00 to $41.00 and gave the company a market perform rating in a research note on Friday, July 29th. Credit Suisse Group AG restated a sell rating and set a $36.00 price objective on shares of Meritage Homes Corp. in a research note on Friday, July 29th. Zacks Investment Research cut Meritage Homes Corp. from a strong-buy rating to a hold rating in a research note on Tuesday, August 2nd. JPMorgan Chase & Co. cut Meritage Homes Corp. from an overweight rating to a neutral rating and set a $37.50 price objective on the stock. in a research note on Tuesday, August 2nd. Finally, Deutsche Bank AG cut Meritage Homes Corp. from a buy rating to a hold rating and cut their price objective for the company from $41.00 to $38.00 in a research note on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $38.50.

Meritage Homes Corp. (NYSE:MTH) traded up 2.04% during mid-day trading on Monday, hitting $35.00. The company had a trading volume of 48,202 shares. The firm has a market cap of $1.40 billion, a P/E ratio of 9.76 and a beta of 1.24. The stock’s 50 day moving average price is $33.06 and its 200 day moving average price is $35.32. Meritage Homes Corp. has a 52-week low of $25.48 and a 52-week high of $41.22.

Meritage Homes Corp. (NYSE:MTH) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.02. Meritage Homes Corp. had a return on equity of 11.50% and a net margin of 5.14%. The business had revenue of $735.90 million for the quarter, compared to analysts’ expectations of $751 million. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The company’s revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts predict that Meritage Homes Corp. will post $3.46 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of Meritage Homes Corp. by 1.9% in the first quarter. State Street Corp now owns 771,458 shares of the company’s stock worth $28,128,000 after buying an additional 14,221 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Meritage Homes Corp. by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 956,765 shares of the company’s stock worth $34,884,000 after buying an additional 13,410 shares during the last quarter. James Investment Research Inc. raised its position in shares of Meritage Homes Corp. by 193.6% in the second quarter. James Investment Research Inc. now owns 17,970 shares of the company’s stock worth $675,000 after buying an additional 11,850 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Meritage Homes Corp. by 3.8% in the second quarter. Ameriprise Financial Inc. now owns 192,887 shares of the company’s stock worth $7,241,000 after buying an additional 7,035 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Meritage Homes Corp. by 269.4% in the second quarter. First Trust Advisors LP now owns 46,475 shares of the company’s stock worth $1,745,000 after buying an additional 33,895 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

About Meritage Homes Corp.

Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It offers a range of homes that are designed to offer to a range of homebuyers. It has homebuilding operations in over three regions: West, which includes Arizona, California Central and East; Central region, which includes Texas, and the East region includes Florida, Georgia, North Carolina, South Carolina and Tennessee.

5 Day Chart for NYSE:MTH

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