Meritage Homes (NYSE:MTH) Stock Price Target Lowered at UBS Group

Meritage Homes (NYSE:MTH) had its target price decreased by equities researchers at UBS Group from $88.00 to $85.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. UBS Group‘s price objective indicates a potential upside of 32.01% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Truist Financial dropped their target price on Meritage Homes from $72.00 to $65.00 and set a “hold” rating on the stock in a report on Friday. Melius Research began coverage on shares of Meritage Homes in a research report on Tuesday, October 6th. They set a “sell” rating and a $59.00 price objective for the company. The Goldman Sachs Group set a $82.00 target price on Meritage Homes and gave the stock a “buy” rating in a research report on Monday, October 12th. Wolfe Research lowered shares of Meritage Homes from a “strong-buy” rating to a “hold” rating in a report on Friday. Finally, Wall Street Zen cut shares of Meritage Homes from a “hold” rating to a “sell” rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Meritage Homes presently has an average rating of “Hold” and a consensus target price of $72.44.

Meritage Homes Stock Performance

Shares of MTH opened at $64.39 on Friday. The firm has a market capitalization of $4.20 billion, a PE ratio of 14.54, a P/E/G ratio of 4.83 and a beta of 1.33. The company has a quick ratio of 1.97, a current ratio of 1.72 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $64.29 and a 200 day moving average price of $69.02. Meritage Homes has a 52-week low of $56.66 and a 52-week high of $85.38.

Meritage Homes (NYSE:MTH) last released its quarterly earnings results on Wednesday, October 28th. The construction company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.06). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.29 billion. Meritage Homes had a return on equity of 6.69% and a net margin of 5.79%. The firm’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 earnings per share. On average, sell-side analysts anticipate that Meritage Homes will post 4.93 earnings per share for the current fiscal year.

Institutional Trading of Meritage Homes

Institutional investors and hedge funds have recently modified their holdings of the company. Salomon & Ludwin LLC grew its holdings in Meritage Homes by 106.9% in the 3rd quarter. Salomon & Ludwin LLC now owns 573 shares of the construction company’s stock valued at $36,000 after buying an additional 296 shares during the last quarter. Vise Technologies Inc. boosted its position in shares of Meritage Homes by 13.0% in the third quarter. Vise Technologies Inc. now owns 5,950 shares of the construction company’s stock valued at $374,000 after acquiring an additional 684 shares during the period. Moss Adams Wealth Advisors LLC bought a new stake in shares of Meritage Homes in the third quarter valued at approximately $234,000. Summit Global Investments grew its stake in shares of Meritage Homes by 4.4% in the third quarter. Summit Global Investments now owns 13,372 shares of the construction company’s stock worth $840,000 after acquiring an additional 569 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Meritage Homes in the third quarter worth $63,000. 98.44% of the stock is currently owned by institutional investors and hedge funds.

Meritage Homes Company Profile

Meritage Homes Corporation is a residential construction company that designs and builds single-family homes in the United States. The company primarily serves entry-level and first-time homebuyers, offering homes in a range of floor plans and communities designed around affordability, energy efficiency and modern features.

Meritage Homes sells homes through its own communities and provides related services, including land acquisition and development, home design, construction, sales and customer support.