ValuEngine upgraded shares of Meritage Homes (NYSE:MTH) from a hold rating to a buy rating in a report released on Monday morning, ValuEngine reports.

Separately, Zelman & Associates raised Meritage Homes from a hold rating to a buy rating in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Meritage Homes currently has a consensus rating of Hold and an average price target of $44.31.

Shares of NYSE MTH opened at $53.74 on Monday. The firm has a market cap of $2.01 billion, a PE ratio of 9.63, a PEG ratio of 1.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a fifty day moving average of $51.58. Meritage Homes has a fifty-two week low of $32.02 and a fifty-two week high of $53.88.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Tuesday, April 23rd. The construction company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The firm had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $636.66 million. Meritage Homes had a return on equity of 12.18% and a net margin of 6.00%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS. As a group, equities research analysts expect that Meritage Homes will post 4.81 earnings per share for the current fiscal year.

In other news, COO Phillippe Lord sold 3,000 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $50.75, for a total transaction of $152,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Hilla Sferruzza sold 5,300 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $50.75, for a total value of $268,975.00. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of MTH. Victory Capital Management Inc. raised its holdings in shares of Meritage Homes by 6,014.0% during the 1st quarter. Victory Capital Management Inc. now owns 616,234 shares of the construction company’s stock worth $27,552,000 after buying an additional 606,155 shares in the last quarter. FMR LLC raised its holdings in shares of Meritage Homes by 91.2% during the 4th quarter. FMR LLC now owns 1,037,323 shares of the construction company’s stock worth $38,091,000 after buying an additional 494,900 shares in the last quarter. Norges Bank acquired a new position in shares of Meritage Homes during the 4th quarter worth $14,217,000. Emerald Advisers LLC raised its holdings in shares of Meritage Homes by 75.0% during the 1st quarter. Emerald Advisers LLC now owns 366,050 shares of the construction company’s stock worth $16,366,000 after buying an additional 156,900 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in shares of Meritage Homes by 92.7% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 294,548 shares of the construction company’s stock worth $13,169,000 after buying an additional 141,700 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

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 first-time and first move-up buyers. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.

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Analyst Recommendations for Meritage Homes (NYSE:MTH)

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