Meritage Corporation (NYSE:MTH) has been given a consensus recommendation of “Hold” by the twelve brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $41.13.

Several brokerages have recently weighed in on MTH. Barclays PLC reiterated an “underweight” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Meritage Corporation in a research note on Wednesday, August 2nd. Deutsche Bank AG increased their price objective on shares of Meritage Corporation from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub cut shares of Meritage Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of Meritage Corporation from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Wednesday, July 5th. Finally, Bank of America Corporation restated an “underperform” rating and set a $38.00 target price (up previously from $36.00) on shares of Meritage Corporation in a research note on Wednesday, June 28th.

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In other Meritage Corporation news, EVP Javier Feliciano sold 1,009 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.60% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. bought a new stake in Meritage Corporation during the first quarter valued at about $122,000. Public Employees Retirement System of Ohio boosted its stake in Meritage Corporation by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock valued at $123,000 after buying an additional 328 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Meritage Corporation by 64.9% in the first quarter. Victory Capital Management Inc. now owns 3,457 shares of the construction company’s stock valued at $127,000 after buying an additional 1,361 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in Meritage Corporation by 88.0% in the second quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock valued at $135,000 after buying an additional 1,496 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd boosted its stake in Meritage Corporation by 3,388.6% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,977 shares of the construction company’s stock valued at $146,000 after buying an additional 3,863 shares during the last quarter. Hedge funds and other institutional investors own 98.18% of the company’s stock.

Meritage Corporation (NYSE:MTH) traded down 2.63% during midday trading on Wednesday, hitting $40.65. 381,182 shares of the stock traded hands. The firm has a market cap of $1.64 billion, a PE ratio of 11.19 and a beta of 1.47. The company’s 50 day moving average price is $42.47 and its 200 day moving average price is $39.42. Meritage Corporation has a 12 month low of $29.70 and a 12 month high of $44.45.

Meritage Corporation (NYSE:MTH) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.23. Meritage Corporation had a net margin of 4.94% and a return on equity of 10.74%. The firm had revenue of $802 million for the quarter, compared to analysts’ expectations of $760.39 million. During the same quarter in the prior year, the business earned $0.95 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. Equities research analysts predict that Meritage Corporation will post $3.80 earnings per share for the current fiscal year.

About Meritage Corporation

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.

Analyst Recommendations for Meritage Corporation (NYSE:MTH)

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