Meritage Homes Corp. (NYSE:MTH) has earned an average recommendation of “Hold” from the fourteen research firms that are covering the stock. Two analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $38.64.

Several brokerages recently weighed in on MTH. FBR & Co raised their target price 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 reaffirmed a “sell” rating and set a $36.00 target price 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 target price for the company. 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 decreased their target price for the company from $41.00 to $38.00 in a research note on Tuesday, August 2nd.

A number of hedge funds and other institutional investors have recently modified their holdings of MTH. Rocky Mountain Advisers LLC purchased a new position in shares of Meritage Homes Corp. during the second quarter valued at $113,000. BlackRock Inc. raised its position in shares of Meritage Homes Corp. by 86.4% in the first quarter. BlackRock Inc. now owns 3,053 shares of the company’s stock valued at $112,000 after buying an additional 1,415 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Meritage Homes Corp. during the second quarter valued at $168,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Meritage Homes Corp. during the second quarter valued at $173,000. Finally, SG Americas Securities LLC purchased a new position in shares of Meritage Homes Corp. during the third quarter valued at $163,000. 95.16% of the stock is currently owned by institutional investors.

Shares of Meritage Homes Corp. (NYSE:MTH) opened at 35.50 on Tuesday. The firm has a 50-day moving average price of $33.03 and a 200 day moving average price of $35.36. Meritage Homes Corp. has a 12-month low of $25.48 and a 12-month high of $41.22. The stock has a market cap of $1.42 billion, a PE ratio of 9.90 and a beta of 1.24.

Meritage Homes Corp. (NYSE:MTH) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.88 earnings per share (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 company earned $735.90 million during the quarter, compared to analysts’ expectations of $751 million. During the same quarter in the prior year, the business posted $0.73 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts predict that Meritage Homes Corp. will post $3.46 EPS for the current fiscal year.

Meritage Homes Corp. Company Profile

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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