Meritage Homes Corp. (NYSE:MTH)’s share price fell 2.5% during mid-day trading on Monday . The stock traded as low as $38.52 and last traded at $38.90, with a volume of 241,497 shares trading hands. The stock had previously closed at $39.91.

Several research firms have recently issued reports on MTH. JMP Securities reaffirmed a “market perform” rating on shares of Meritage Homes Corp. in a research note on Friday, June 24th. FBN Securities downgraded shares of Meritage Homes Corp. from an “outperform” rating to a “sector perform” rating in a research note on Monday, April 18th. TheStreet raised shares of Meritage Homes Corp. from a “hold” rating to a “buy” rating in a research note on Friday, June 17th. Zacks Investment Research raised shares of Meritage Homes Corp. from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Wednesday, July 6th. Finally, Sterne Agee CRT downgraded shares of Meritage Homes Corp. from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a research note on Wednesday, April 13th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $39.33.

The company has a 50 day moving average price of $37.17 and a 200-day moving average price of $34.36. The company has a market capitalization of $1.60 billion and a price-to-earnings ratio of 12.54.

Meritage Homes Corp. (NYSE:MTH) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.06. During the same period in the prior year, the firm earned $0.40 EPS. The company earned $597.77 million during the quarter, compared to analysts’ expectations of $539.97 million. Meritage Homes Corp.’s quarterly revenue was up 15.2% on a year-over-year basis. On average, equities analysts predict that Meritage Homes Corp. will post $3.61 EPS for the current fiscal year.

In other Meritage Homes Corp. news, Director Peter L. Ax sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $36.71, for a total value of $550,650.00. Following the completion of the transaction, the director now owns 45,000 shares of the company’s stock, valued at approximately $1,651,950. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gerald W. Haddock sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $38.11, for a total transaction of $285,825.00. Following the completion of the transaction, the director now directly owns 43,000 shares of the company’s stock, valued at approximately $1,638,730. The disclosure for this sale can be found here.

Other institutional investors recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Meritage Homes Corp. by 11.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,359,871 shares of the company’s stock worth $114,203,000 after buying an additional 335,676 shares in the last quarter. Trilogy Global Advisors LP boosted its stake in shares of Meritage Homes Corp. by 10.4% in the fourth quarter. Trilogy Global Advisors LP now owns 447,419 shares of the company’s stock worth $15,208,000 after buying an additional 42,119 shares during the period. Dean Investment Associates LLC boosted its stake in shares of Meritage Homes Corp. by 16.0% in the fourth quarter. Dean Investment Associates LLC now owns 71,370 shares of the company’s stock worth $2,426,000 after buying an additional 9,845 shares during the period. Rhumbline Advisers boosted its stake in shares of Meritage Homes Corp. by 4.0% in the fourth quarter. Rhumbline Advisers now owns 67,600 shares of the company’s stock worth $2,298,000 after buying an additional 2,615 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in shares of Meritage Homes Corp. by 7.9% in the fourth quarter. Nationwide Fund Advisors now owns 34,120 shares of the company’s stock worth $1,160,000 after buying an additional 2,506 shares during the period.

Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It offers a range of homes that are designed to offer to a range of homebuyers. It has homebuilding operations in over three regions: West, which includes Arizona, California Central and East; Central region, which includes Texas, and the East region includes Florida, Georgia, North Carolina, South Carolina and Tennessee.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.