Meritage Homes (NYSE:MTH) Price Target Raised to $69.00 at JPMorgan Chase & Co.

Meritage Homes (NYSE:MTH) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $60.00 to $69.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 5.84% from the company’s current price.

Several other equities research analysts also recently weighed in on MTH. Weiss Ratings reissued a “hold (c+)” rating on shares of Meritage Homes in a report on Wednesday, October 8th. Wedbush dropped their price objective on Meritage Homes from $103.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Zacks Research raised Meritage Homes from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 23rd. UBS Group set a $101.00 price objective on Meritage Homes and gave the company a “buy” rating in a research note on Thursday. Finally, Zelman & Associates raised Meritage Homes to a “strong-buy” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Meritage Homes presently has an average rating of “Hold” and an average price target of $84.71.

Meritage Homes Price Performance

Shares of MTH traded down $0.58 during midday trading on Tuesday, hitting $65.19. The company’s stock had a trading volume of 125,145 shares, compared to its average volume of 960,569. Meritage Homes has a one year low of $59.27 and a one year high of $98.74. The company’s fifty day simple moving average is $73.45 and its two-hundred day simple moving average is $70.60. The company has a quick ratio of 2.16, a current ratio of 1.95 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 6.60 and a beta of 1.42.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings results on Tuesday, October 28th. The construction company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.32). Meritage Homes had a net margin of 8.96% and a return on equity of 10.37%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business posted $5.34 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. Meritage Homes has set its Q4 2025 guidance at 1.510-1.700 EPS. As a group, equities analysts expect that Meritage Homes will post 9.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Meritage Homes

In other news, CEO Phillippe Lord sold 6,950 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $80.01, for a total value of $556,069.50. Following the transaction, the chief executive officer owned 221,320 shares in the company, valued at $17,707,813.20. The trade was a 3.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Meritage Homes

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Meritage Homes by 96.3% in the first quarter. Vanguard Group Inc. now owns 7,999,889 shares of the construction company’s stock valued at $567,032,000 after purchasing an additional 3,925,148 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Meritage Homes by 93.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,926,900 shares of the construction company’s stock valued at $207,456,000 after purchasing an additional 1,417,024 shares during the last quarter. Greenhaven Associates Inc. lifted its position in shares of Meritage Homes by 4.0% during the second quarter. Greenhaven Associates Inc. now owns 1,491,955 shares of the construction company’s stock worth $99,916,000 after acquiring an additional 57,587 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Meritage Homes by 58.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,423,013 shares of the construction company’s stock worth $95,299,000 after acquiring an additional 527,265 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in shares of Meritage Homes by 95.7% during the first quarter. Earnest Partners LLC now owns 1,352,648 shares of the construction company’s stock worth $95,876,000 after acquiring an additional 661,310 shares in the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.

About Meritage Homes

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.