Meritage Homes (NYSE:MTH) Stock Rating Upgraded by Wall Street Zen

Meritage Homes (NYSE:MTH) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

MTH has been the topic of several other research reports. Citigroup reaffirmed a “market outperform” rating on shares of Meritage Homes in a report on Monday, July 6th. Bank of America dropped their price objective on shares of Meritage Homes from $74.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Weiss Ratings upgraded Meritage Homes from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 24th. UBS Group set a $86.00 price objective on Meritage Homes and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, Zacks Research raised Meritage Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Meritage Homes has an average rating of “Hold” and an average price target of $79.00.

Meritage Homes Price Performance

Shares of NYSE MTH opened at $72.83 on Friday. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 3.23 and a beta of 1.35. Meritage Homes has a 52 week low of $58.03 and a 52 week high of $85.38. The company’s 50-day moving average price is $72.85 and its 200 day moving average price is $70.44. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.36.

Insider Activity

In other news, CAO Alison Sasser sold 1,273 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $62.11, for a total transaction of $79,066.03. Following the sale, the chief accounting officer owned 7,634 shares in the company, valued at $474,147.74. This trade represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Meritage Homes

Several large investors have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC boosted its stake in Meritage Homes by 63.9% in the 4th quarter. Salomon & Ludwin LLC now owns 372 shares of the construction company’s stock worth $25,000 after buying an additional 145 shares during the last quarter. New Age Alpha Advisors LLC increased its stake in shares of Meritage Homes by 1.5% during the 4th quarter. New Age Alpha Advisors LLC now owns 10,627 shares of the construction company’s stock valued at $699,000 after acquiring an additional 158 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Meritage Homes by 1.2% during the 4th quarter. ProShare Advisors LLC now owns 13,559 shares of the construction company’s stock valued at $892,000 after acquiring an additional 164 shares during the last quarter. Signaturefd LLC increased its stake in shares of Meritage Homes by 25.7% during the 4th quarter. Signaturefd LLC now owns 808 shares of the construction company’s stock valued at $53,000 after acquiring an additional 165 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Meritage Homes by 2.0% during the 1st quarter. Glenmede Trust Co. NA now owns 9,223 shares of the construction company’s stock worth $570,000 after acquiring an additional 179 shares during the period. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

About Meritage Homes

Meritage Homes Corporation is a national homebuilder and residential developer headquartered in Scottsdale, Arizona. Founded in 1985 as Winchester Homes and later rebranded to Meritage Homes, the company specializes in designing, constructing and selling single‐family detached and attached homes. With a focus on energy efficiency and sustainable building practices, Meritage Homes markets its properties under the GreenSmart program, which integrates high‐performance features aimed at reducing long‐term energy and water consumption for homebuyers.

The company’s core activities encompass land acquisition, residential community planning, home design, construction management and real estate sales.