Citigroup Inc. Increases Meritage Corporation (MTH) Price Target to $51.00

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.

Analyst Recommendations for Meritage Corporation (NYSE:MTH)

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