Meritage Homes Corp (MTH) Receives Consensus Rating of “Buy” from Analysts
Meritage Homes Corp (NYSE:MTH) has received an average recommendation of “Buy” from the thirteen analysts that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $52.33.
Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Meritage Homes from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $44.75 to $58.00 in a research note on Wednesday. JMP Securities upped their target price on Meritage Homes from $55.00 to $57.00 and gave the stock a “market outperform” rating in a research note on Friday, February 2nd. Bank of America upped their target price on Meritage Homes from $51.00 to $55.00 and gave the stock an “underperform” rating in a research note on Friday, February 2nd. ValuEngine cut Meritage Homes from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. Finally, Credit Suisse Group upgraded Meritage Homes from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $52.00 to $60.00 in a research report on Monday, January 22nd.
Shares of Meritage Homes (NYSE MTH) traded up $1.35 during mid-day trading on Friday, hitting $45.35. The stock had a trading volume of 292,033 shares, compared to its average volume of 447,598. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.81. The firm has a market cap of $1,829.01, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. Meritage Homes has a twelve month low of $35.75 and a twelve month high of $55.50.
In other Meritage Homes news, Director Robert Gary Sarver sold 12,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $50.47, for a total value of $605,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP C Timothy White sold 7,333 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $45.20, for a total value of $331,451.60. Following the completion of the sale, the executive vice president now owns 48,705 shares of the company’s stock, valued at $2,201,466. The disclosure for this sale can be found here. Insiders have sold 32,959 shares of company stock valued at $1,538,237 over the last quarter. 5.60% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB purchased a new stake in Meritage Homes in the 4th quarter valued at $232,000. Meitav Dash Investments Ltd. purchased a new stake in Meritage Homes in the 4th quarter valued at $974,000. MetLife Investment Advisors LLC purchased a new stake in Meritage Homes in the 4th quarter valued at $923,000. Metropolitan Life Insurance Co. NY purchased a new stake in Meritage Homes in the 4th quarter valued at $635,000. Finally, Millennium Management LLC grew its holdings in Meritage Homes by 8.7% in the 4th quarter. Millennium Management LLC now owns 1,522,867 shares of the construction company’s stock valued at $77,971,000 after buying an additional 121,672 shares in the last quarter. Institutional investors own 95.15% of the company’s stock.
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Meritage Homes 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.
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