ValuEngine upgraded shares of Meritage Homes (NYSE:MTH) from a buy rating to a strong-buy rating in a research note published on Tuesday morning.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Meritage Homes from a sell rating to a hold rating in a research report on Wednesday, January 10th. UBS Group reaffirmed a neutral rating and set a $57.00 price objective (up from $52.00) on shares of Meritage Homes in a research report on Wednesday, January 17th. JPMorgan Chase & Co. raised Meritage Homes from a neutral rating to an overweight rating and upped their price objective for the stock from $44.75 to $58.00 in a research report on Wednesday, March 7th. Bank of America raised Meritage Homes from an underperform rating to a neutral rating and set a $55.00 target price for the company in a research report on Wednesday, February 14th. Finally, Barclays raised Meritage Homes from an underweight rating to an equal weight rating in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $50.90.
Meritage Homes (MTH) opened at $46.30 on Tuesday. The stock has a market capitalization of $1,829.00, a PE ratio of 13.50, a PEG ratio of 0.67 and a beta of 1.34. Meritage Homes has a 1 year low of $35.75 and a 1 year high of $55.50. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.81.
In other Meritage Homes news, Director Peter L. Ax sold 12,500 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $44.02, for a total transaction of $550,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP C Timothy White sold 7,333 shares of the 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 sale, the executive vice president now directly owns 48,705 shares of the company’s stock, valued at $2,201,466. The disclosure for this sale can be found here. Insiders have sold a total of 20,959 shares of company stock valued at $932,597 over the last ninety days. 5.60% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Arizona State Retirement System lifted its position in Meritage Homes by 224.6% during the 4th quarter. Arizona State Retirement System now owns 63,710 shares of the construction company’s stock worth $3,262,000 after acquiring an additional 44,082 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Meritage Homes by 8.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 269,968 shares of the construction company’s stock worth $11,987,000 after acquiring an additional 20,308 shares during the period. Earnest Partners LLC lifted its position in Meritage Homes by 2.2% during the 3rd quarter. Earnest Partners LLC now owns 1,752,837 shares of the construction company’s stock worth $77,826,000 after acquiring an additional 37,201 shares during the period. Fox Run Management L.L.C. acquired a new stake in Meritage Homes during the 4th quarter worth approximately $460,000. Finally, Pinebridge Investments L.P. lifted its position in Meritage Homes by 53.4% during the 4th quarter. Pinebridge Investments L.P. now owns 63,945 shares of the construction company’s stock worth $3,274,000 after acquiring an additional 22,250 shares during the period. 95.24% of the stock is owned by institutional investors.
About Meritage Homes
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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