Meritage Corporation (NYSE:MTH)‘s stock had its “underweight” rating reaffirmed by Barclays PLC in a report released on Wednesday. They currently have a $38.00 price target on the construction company’s stock, up from their prior price target of $36.00. Barclays PLC’s target price indicates a potential downside of 13.34% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Credit Suisse Group began coverage on Meritage Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $40.00 price objective on the stock. Zacks Investment Research raised Meritage Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, April 5th. BidaskClub raised Meritage Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $37.00 price objective on shares of Meritage Corporation in a research note on Thursday, April 27th. Finally, Bank of America Corporation reissued an “underperform” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Meritage Corporation in a research note on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $41.13.

Meritage Corporation (NYSE MTH) traded up 0.80% on Wednesday, reaching $43.85. The company’s stock had a trading volume of 184,670 shares. The firm has a market cap of $1.77 billion, a PE ratio of 12.06 and a beta of 1.47. Meritage Corporation has a 52-week low of $29.70 and a 52-week high of $44.45. The stock’s 50 day moving average price is $41.66 and its 200 day moving average price is $38.57.

Meritage Corporation (NYSE:MTH) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.23. Meritage Corporation had a return on equity of 10.74% and a net margin of 4.94%. The business had revenue of $802 million for the quarter, compared to the consensus estimate of $760.39 million. During the same period in the prior year, the business posted $0.95 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts expect that Meritage Corporation will post $3.77 earnings per share for the current fiscal year.

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In related news, EVP Javier Feliciano sold 1,009 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total value of $35,869.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP C Timothy White sold 7,032 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $39.00, for a total value of $274,248.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,541 shares of company stock valued at $620,318. Company insiders own 5.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. bought a new position in Meritage Corporation during the first quarter worth $122,000. Victory Capital Management Inc. raised its position in 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 buying an additional 1,361 shares during the last quarter. Point72 Asia Hong Kong Ltd raised its position in Meritage Corporation by 3,388.6% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,977 shares of the construction company’s stock worth $146,000 after buying an additional 3,863 shares during the last quarter. State of Alaska Department of Revenue raised its position in Meritage Corporation by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 4,160 shares of the construction company’s stock worth $153,000 after buying an additional 90 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in Meritage Corporation during the first quarter worth $153,000. Institutional investors and hedge funds own 97.56% of the company’s stock.

About Meritage Corporation

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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