Meritage Homes (NYSE:MTH) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Wednesday.

Other equities analysts have also recently issued reports about the stock. Wedbush lowered their price target on shares of Meritage Homes from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. Zacks Investment Research raised shares of Meritage Homes from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Tuesday, August 14th. Citigroup reaffirmed a “buy” rating and set a $55.00 price target on shares of Meritage Homes in a research note on Wednesday, June 27th. Wells Fargo & Co lowered their price target on shares of Meritage Homes from $57.00 to $49.00 and set a “market perform” rating on the stock in a research note on Friday, July 27th. Finally, Credit Suisse Group lowered their price target on shares of Meritage Homes from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, July 26th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Meritage Homes presently has an average rating of “Buy” and a consensus price target of $53.30.

NYSE:MTH opened at $44.00 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. Meritage Homes has a fifty-two week low of $39.75 and a fifty-two week high of $55.50. The firm has a market cap of $1.80 billion, a PE ratio of 9.32, a P/E/G ratio of 0.52 and a beta of 1.07.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Wednesday, July 25th. The construction company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.21. Meritage Homes had a net margin of 5.21% and a return on equity of 12.17%. The business had revenue of $877.50 million for the quarter, compared to analysts’ expectations of $825.47 million. During the same period in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. equities research analysts expect that Meritage Homes will post 5.67 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Meritage Homes by 5.5% in the 2nd quarter. BlackRock Inc. now owns 5,988,652 shares of the construction company’s stock valued at $263,202,000 after acquiring an additional 311,283 shares during the last quarter. Earnest Partners LLC grew its stake in Meritage Homes by 1.9% in the 1st quarter. Earnest Partners LLC now owns 2,120,060 shares of the construction company’s stock valued at $95,933,000 after acquiring an additional 39,810 shares during the last quarter. Millennium Management LLC grew its stake in Meritage Homes by 21.1% in the 1st quarter. Millennium Management LLC now owns 1,843,674 shares of the construction company’s stock valued at $83,426,000 after acquiring an additional 320,807 shares during the last quarter. Macquarie Group Ltd. grew its stake in Meritage Homes by 15.5% in the 2nd quarter. Macquarie Group Ltd. now owns 1,813,507 shares of the construction company’s stock valued at $79,704,000 after acquiring an additional 242,916 shares during the last quarter. Finally, Echo Street Capital Management LLC grew its stake in Meritage Homes by 48.4% in the 1st quarter. Echo Street Capital Management LLC now owns 966,437 shares of the construction company’s stock valued at $43,731,000 after acquiring an additional 315,410 shares during the last quarter. 93.64% of the stock is currently owned by hedge funds and other institutional investors.

Meritage Homes Company Profile

Meritage Homes Corporation designs and builds single-family homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for various homebuyers, including first-time, move-up, active-adult, and luxury homes under the Meritage Homes brand name.

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Analyst Recommendations for Meritage Homes (NYSE:MTH)

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