Meritage Homes Corp (MTH) Receives $51.14 Average Target Price from Analysts
Meritage Homes Corp (NYSE:MTH) has been given an average recommendation of “Buy” by the twelve research firms that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $51.63.
Several research analysts have commented on MTH shares. Citigroup raised Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Monday, January 8th. Zacks Investment Research raised Meritage Homes from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Thursday, February 1st. Barclays raised Meritage Homes from an “underweight” rating to an “equal weight” rating in a research note on Friday, February 2nd. JMP Securities boosted their target price on Meritage Homes from $55.00 to $57.00 and gave the stock a “market outperform” rating in a research note on Friday, February 2nd. Finally, UBS Group started coverage on Meritage Homes in a research note on Wednesday, October 25th. They set a “neutral” rating and a $52.00 target price for the company.
In other news, EVP C Timothy White sold 7,333 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $45.20, for a total value of $331,451.60. Following the completion of the transaction, the executive vice president now owns 48,705 shares of the company’s stock, valued at $2,201,466. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Javier Feliciano sold 1,009 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total value of $35,869.95. The disclosure for this sale can be found here. Insiders sold 21,468 shares of company stock valued at $1,023,857 in the last ninety days. 5.60% of the stock is currently owned by insiders.
Meritage Homes (NYSE MTH) traded up $0.85 on Wednesday, reaching $47.20. 289,102 shares of the company traded hands, compared to its average volume of 478,627. Meritage Homes has a 1-year low of $33.50 and a 1-year high of $55.50. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.87 and a quick ratio of 0.70. The company has a market capitalization of $1,869.33, a PE ratio of 13.76, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29.
Meritage Homes (NYSE:MTH) last issued its earnings results on Thursday, February 1st. The construction company reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.09. The firm had revenue of $946.40 million during the quarter, compared to the consensus estimate of $932.94 million. Meritage Homes had a return on equity of 10.76% and a net margin of 4.44%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 earnings per share. sell-side analysts anticipate that Meritage Homes will post 5.06 EPS for the current fiscal year.
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Meritage Homes 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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