Shares of Meritage Homes Corp (NYSE:MTH) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $53.56.

Several brokerages have recently issued reports on MTH. ValuEngine cut Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, April 19th. Zacks Investment Research raised Meritage Homes from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Monday, July 16th. Credit Suisse Group reduced their target price on Meritage Homes from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, April 26th. BTIG Research reaffirmed a “hold” rating on shares of Meritage Homes in a report on Sunday, April 29th. Finally, Citigroup reiterated a “buy” rating and issued a $55.00 price target on shares of Meritage Homes in a research report on Wednesday, June 27th.

Shares of MTH stock traded down $0.50 during trading hours on Thursday, hitting $43.00. The stock had a trading volume of 398,246 shares, compared to its average volume of 460,300. Meritage Homes has a one year low of $38.80 and a one year high of $55.50. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 0.51 and a beta of 1.15.

Meritage Homes (NYSE:MTH) last issued its earnings results on Wednesday, July 25th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.21. Meritage Homes had a return on equity of 12.17% and a net margin of 5.21%. The firm had revenue of $877.50 million for the quarter, compared to analysts’ expectations of $825.47 million. During the same period in the previous year, the firm posted $0.98 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. research analysts predict that Meritage Homes will post 5.67 EPS for the current fiscal year.

In related news, EVP C Timothy White sold 8,000 shares of Meritage Homes stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $46.25, for a total value of $370,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTH. Mount Yale Investment Advisors LLC purchased a new position in Meritage Homes in the first quarter worth about $104,000. PNC Financial Services Group Inc. grew its position in Meritage Homes by 46.0% in the second quarter. PNC Financial Services Group Inc. now owns 3,987 shares of the construction company’s stock worth $175,000 after acquiring an additional 1,256 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in Meritage Homes in the second quarter worth about $205,000. Xact Kapitalforvaltning AB purchased a new position in Meritage Homes in the fourth quarter worth about $232,000. Finally, Harbour Capital Advisors LLC purchased a new position in Meritage Homes in the second quarter worth about $252,000. Institutional investors own 93.29% of the company’s stock.

Meritage Homes Company Profile

Meritage Homes Corporation designs and builds single-family 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 various homebuyers, including first-time, move-up, active-adult, and luxury homes under the Meritage Homes brand name.

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Analyst Recommendations for Meritage Homes (NYSE:MTH)

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