Meritage Homes (NYSE:MTH – Get Rating) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c” rating in a research report issued on Wednesday, TheStreetRatingsTable reports.
Several other equities analysts also recently issued reports on the stock. KeyCorp downgraded shares of Meritage Homes from an “overweight” rating to a “sector weight” rating in a report on Monday, January 31st. JPMorgan Chase & Co. cut their price objective on shares of Meritage Homes from $111.00 to $89.00 and set a “neutral” rating on the stock in a report on Wednesday, April 13th. Credit Suisse Group began coverage on shares of Meritage Homes in a report on Tuesday, April 5th. They set an “outperform” rating and a $103.00 price objective on the stock. Wedbush began coverage on Meritage Homes in a research report on Tuesday, January 18th. They issued an “outperform” rating and a $157.00 target price on the stock. Finally, StockNews.com began coverage on Meritage Homes in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $120.14.
Shares of Meritage Homes stock opened at $84.34 on Wednesday. The company has a market capitalization of $3.09 billion, a PE ratio of 4.37 and a beta of 1.70. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.44 and a current ratio of 1.44. The company has a 50-day simple moving average of $87.61 and a two-hundred day simple moving average of $101.87. Meritage Homes has a one year low of $75.56 and a one year high of $125.01.
In other Meritage Homes news, Chairman Steven J. Hilton sold 39,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $101.41, for a total value of $4,005,695.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Clinton Szubinski sold 430 shares of the company’s stock in a transaction that occurred on Wednesday, February 23rd. The stock was sold at an average price of $90.31, for a total value of $38,833.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,181 shares of company stock worth $9,116,246. Insiders own 1.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Byrne Asset Management LLC acquired a new position in shares of Meritage Homes during the 4th quarter worth approximately $28,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Meritage Homes by 45.3% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 388 shares of the construction company’s stock worth $47,000 after buying an additional 121 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Meritage Homes by 103.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 597 shares of the construction company’s stock worth $47,000 after buying an additional 304 shares during the period. Covestor Ltd acquired a new position in shares of Meritage Homes during the 4th quarter worth approximately $78,000. Finally, Van ECK Associates Corp raised its stake in shares of Meritage Homes by 59.1% during the 3rd quarter. Van ECK Associates Corp now owns 767 shares of the construction company’s stock worth $74,000 after buying an additional 285 shares during the period. 94.62% of the stock is owned by institutional investors and hedge funds.
Meritage Homes Company Profile (Get Rating)
Meritage Homes Corporation, together with its subsidiaries, 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.
- Get a free copy of the StockNews.com research report on Meritage Homes (MTH)
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