Shares of Meritage Corporation (NYSE:MTH) have been assigned an average recommendation of “Hold” from the eleven research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $40.29.

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

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Meritage Corporation (NYSE MTH) traded down 0.21% during midday trading on Thursday, reaching $48.15. 349,046 shares of the company’s stock traded hands. Meritage Corporation has a 1-year low of $29.70 and a 1-year high of $48.70. The firm’s 50 day moving average price is $42.60 and its 200-day moving average price is $41.10. The company has a market capitalization of $1.94 billion, a PE ratio of 13.25 and a beta of 1.48.

Meritage Corporation (NYSE:MTH) last posted its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.23. Meritage Corporation had a net margin of 4.94% and a return on equity of 10.74%. The company had revenue of $802.00 million for the quarter, compared to analyst estimates of $760.39 million. During the same period in the previous year, the business posted $0.95 earnings per share. Meritage Corporation’s quarterly revenue was up .5% on a year-over-year basis. Equities analysts expect that Meritage Corporation will post $3.77 EPS for the current year.

In related news, EVP Javier Feliciano sold 1,009 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is accessible through this link. 5.60% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Advisors Preferred LLC purchased a new stake in Meritage Corporation during the second quarter worth about $365,000. Swiss National Bank boosted its holdings in Meritage Corporation by 1.8% during the first quarter. Swiss National Bank now owns 62,700 shares of the construction company’s stock worth $2,307,000 after buying an additional 1,100 shares in the last quarter. BlackRock Inc. boosted its holdings in Meritage Corporation by 53,081.0% during the first quarter. BlackRock Inc. now owns 5,361,172 shares of the construction company’s stock worth $197,292,000 after buying an additional 5,351,091 shares in the last quarter. Bank of Montreal Can purchased a new stake in Meritage Corporation during the second quarter worth about $388,000. Finally, Great Lakes Advisors LLC purchased a new stake in Meritage Corporation during the second quarter worth about $2,367,000. 98.18% of the stock is currently owned by hedge funds and other institutional investors.

Meritage Corporation 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.

Analyst Recommendations for Meritage Corporation (NYSE:MTH)

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