Meritage Homes (MTH) Upgraded by JPMorgan Chase & Co. to “Overweight”
JPMorgan Chase & Co. upgraded shares of Meritage Homes (NYSE:MTH) from a neutral rating to an overweight rating in a report released on Wednesday, MarketBeat reports. JPMorgan Chase & Co. currently has $58.00 price target on the construction company’s stock, up from their prior price target of $44.75.
MTH has been the subject of a number of other reports. Citigroup upgraded Meritage Homes from a neutral rating to a buy rating and set a $51.00 target price for the company in a report on Monday, January 8th. Zacks Investment Research downgraded Meritage Homes from a hold rating to a sell rating in a report on Tuesday, January 2nd. JMP Securities lifted their target price on Meritage Homes from $55.00 to $57.00 and gave the stock a market outperform rating in a report on Friday, February 2nd. Credit Suisse Group upgraded Meritage Homes from a neutral rating to an outperform rating and lifted their target price for the stock from $52.00 to $60.00 in a report on Monday, January 22nd. Finally, Barclays upgraded Meritage Homes from an underweight rating to an equal weight rating in a report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $50.90.
Shares of Meritage Homes (NYSE MTH) opened at $45.35 on Wednesday. The firm has a market capitalization of $1,829.01, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.81. Meritage Homes has a 1-year low of $35.75 and a 1-year high of $55.50.
In other Meritage Homes news, Director Robert Gary Sarver sold 12,000 shares of the firm’s stock in a transaction that occurred 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 at the SEC website. Also, CFO Hilla Sferruzza sold 589 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $45.20, for a total value of $26,622.80. The disclosure for this sale can be found here. Insiders sold 32,959 shares of company stock valued at $1,538,237 in the last three months. Insiders own 5.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in Meritage Homes by 3.3% in the fourth quarter. BlackRock Inc. now owns 5,593,226 shares of the construction company’s stock valued at $286,371,000 after acquiring an additional 176,270 shares during the period. Earnest Partners LLC grew its stake in Meritage Homes by 18.7% in the fourth quarter. Earnest Partners LLC now owns 2,080,250 shares of the construction company’s stock valued at $106,509,000 after acquiring an additional 327,413 shares during the period. Macquarie Group Ltd. grew its stake in Meritage Homes by 7.4% in the third quarter. Macquarie Group Ltd. now owns 1,720,615 shares of the construction company’s stock valued at $76,395,000 after acquiring an additional 118,335 shares during the period. Millennium Management LLC grew its stake in Meritage Homes by 8.7% in the fourth quarter. Millennium Management LLC now owns 1,522,867 shares of the construction company’s stock valued at $77,971,000 after acquiring an additional 121,672 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in Meritage Homes by 2.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 275,390 shares of the construction company’s stock valued at $14,100,000 after acquiring an additional 5,422 shares during the period. 95.15% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.