Meritage Homes (NYSE:MTH) Earns Neutral Rating from Wedbush

Meritage Homes (NYSE:MTH)‘s stock had its “neutral” rating reaffirmed by investment analysts at Wedbush in a research note issued to investors on Tuesday,RTT News reports. They currently have a $103.00 price target on the construction company’s stock. Wedbush’s target price would indicate a potential upside of 32.31% from the stock’s current price.

Several other research analysts have also weighed in on MTH. Raymond James lowered Meritage Homes from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods cut their target price on Meritage Homes from $105.00 to $99.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 5th. UBS Group cut their target price on Meritage Homes from $126.00 to $118.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. StockNews.com lowered Meritage Homes from a “hold” rating to a “sell” rating in a research report on Saturday, January 11th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $98.50 price objective (down from $110.00) on shares of Meritage Homes in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $107.38.

Meritage Homes Trading Up 2.2 %

Shares of MTH stock traded up $1.69 during mid-day trading on Tuesday, hitting $77.85. 76,569 shares of the company’s stock were exchanged, compared to its average volume of 982,586. Meritage Homes has a fifty-two week low of $73.05 and a fifty-two week high of $106.99. The stock has a 50-day simple moving average of $85.33 and a two-hundred day simple moving average of $92.20. The company has a quick ratio of 1.75, a current ratio of 1.61 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 5.95 and a beta of 1.88.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.55 by $0.17. Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. Equities analysts expect that Meritage Homes will post 10.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Meritage Homes

Institutional investors and hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC lifted its position in shares of Meritage Homes by 65.7% during the 3rd quarter. Intech Investment Management LLC now owns 17,259 shares of the construction company’s stock valued at $3,539,000 after acquiring an additional 6,843 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Meritage Homes by 32.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 47,546 shares of the construction company’s stock valued at $9,750,000 after acquiring an additional 11,558 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Meritage Homes by 47.3% during the 3rd quarter. SG Americas Securities LLC now owns 1,364 shares of the construction company’s stock valued at $280,000 after acquiring an additional 438 shares during the last quarter. Signaturefd LLC lifted its position in shares of Meritage Homes by 125.2% during the 3rd quarter. Signaturefd LLC now owns 509 shares of the construction company’s stock valued at $104,000 after acquiring an additional 283 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Meritage Homes by 15.5% during the 3rd quarter. CWM LLC now owns 433 shares of the construction company’s stock valued at $89,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Meritage Homes Company Profile

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.