Separately, Zelman & Associates upgraded shares of Meritage Homes from a hold rating to a buy rating in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $44.31.
MTH stock traded up $0.21 during trading on Monday, reaching $53.74. The company had a trading volume of 279,474 shares, compared to its average volume of 382,301. The business has a 50-day simple moving average of $51.54. The firm has a market cap of $2.01 billion, a P/E ratio of 9.63, a price-to-earnings-growth ratio of 1.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.32 and a current ratio of 1.32. Meritage Homes has a twelve month low of $32.02 and a twelve month high of $53.88.
Meritage Homes (NYSE:MTH) last released its earnings results on Tuesday, April 23rd. The construction company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $636.66 million. Meritage Homes had a net margin of 6.00% and a return on equity of 12.18%. Meritage Homes’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. As a group, analysts expect that Meritage Homes will post 4.81 earnings per share for the current year.
In related news, COO Phillippe Lord sold 3,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $50.75, for a total value of $152,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Hilla Sferruzza sold 5,300 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $50.75, for a total transaction of $268,975.00. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MTH. Victory Capital Management Inc. increased its holdings in Meritage Homes by 6,014.0% in the 1st quarter. Victory Capital Management Inc. now owns 616,234 shares of the construction company’s stock worth $27,552,000 after acquiring an additional 606,155 shares in the last quarter. FMR LLC grew its holdings in shares of Meritage Homes by 91.2% during the fourth quarter. FMR LLC now owns 1,037,323 shares of the construction company’s stock worth $38,091,000 after buying an additional 494,900 shares in the last quarter. Norges Bank purchased a new stake in shares of Meritage Homes during the fourth quarter worth $14,217,000. Emerald Advisers LLC grew its holdings in shares of Meritage Homes by 75.0% during the first quarter. Emerald Advisers LLC now owns 366,050 shares of the construction company’s stock worth $16,366,000 after buying an additional 156,900 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in shares of Meritage Homes by 92.7% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 294,548 shares of the construction company’s stock worth $13,169,000 after buying an additional 141,700 shares in the last quarter. 96.60% of the stock is owned by institutional investors.
About Meritage Homes
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 first-time and first move-up buyers. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.
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