Meritage Corporation (NYSE:MTH) had its target price boosted by Citigroup Inc. from $46.00 to $51.00 in a research report released on Monday, October 30th. Citigroup Inc. currently has a neutral rating on the construction company’s stock.
MTH has been the topic of several other reports. UBS AG began coverage on Meritage Corporation in a report on Wednesday, October 25th. They set a neutral rating and a $52.00 target price on the stock. Zacks Investment Research lowered Meritage Corporation from a buy rating to a hold rating in a report on Tuesday, September 19th. BidaskClub lowered Meritage Corporation from a buy rating to a hold rating in a report on Thursday, July 13th. Deutsche Bank AG raised their target price on Meritage Corporation from $40.00 to $42.00 and gave the company a hold rating in a report on Wednesday, August 2nd. Finally, Barclays PLC restated an underweight rating on shares of Meritage Corporation in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $43.20.
Shares of Meritage Corporation (NYSE:MTH) opened at $50.05 on Monday. The stock has a market capitalization of $2,018.32, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.32 and a beta of 1.50. Meritage Corporation has a 12-month low of $33.40 and a 12-month high of $50.95. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.
Meritage Corporation (NYSE:MTH) last released its quarterly earnings data on Friday, October 27th. The construction company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.09. The firm had revenue of $805.60 million during the quarter, compared to analysts’ expectations of $827.40 million. Meritage Corporation had a return on equity of 10.81% and a net margin of 5.04%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. equities analysts forecast that Meritage Corporation will post 3.8 EPS for the current year.
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In other news, EVP Javier Feliciano sold 1,009 shares of Meritage Corporation stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total value of $35,869.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in shares of Meritage Corporation by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock worth $123,000 after purchasing an additional 328 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Meritage Corporation by 88.0% in the second quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock worth $135,000 after purchasing an additional 1,496 shares during the period. Victory Capital Management Inc. increased its stake in shares of Meritage Corporation by 64.9% in the first quarter. Victory Capital Management Inc. now owns 3,457 shares of the construction company’s stock worth $127,000 after purchasing an additional 1,361 shares during the period. Sei Investments Co. bought a new position in shares of Meritage Corporation in the second quarter worth about $170,000. Finally, Integrated Investment Consultants LLC increased its stake in shares of Meritage Corporation by 37.4% in the second quarter. Integrated Investment Consultants LLC now owns 4,150 shares of the construction company’s stock worth $175,000 after purchasing an additional 1,129 shares during the period. Institutional investors and hedge funds own 99.48% of the company’s stock.
Meritage Corporation Company Profile
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.
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