Meritage Homes (NYSE:MTH) Stock Rating Upgraded by StockNews.com

Meritage Homes (NYSE:MTH) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other research firms have also recently weighed in on MTH. Seaport Res Ptn raised shares of Meritage Homes from a “neutral” rating to a “buy” rating in a report on Friday, November 3rd. UBS Group lifted their target price on shares of Meritage Homes from $155.00 to $188.00 and gave the company a “buy” rating in a report on Monday, July 31st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.33.

Meritage Homes Stock Up 0.5 %

Shares of Meritage Homes stock opened at $142.55 on Thursday. Meritage Homes has a 52-week low of $80.25 and a 52-week high of $152.55. The company has a 50 day moving average of $123.31 and a 200 day moving average of $130.53. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $5.20 billion, a P/E ratio of 6.59 and a beta of 1.69.

Meritage Homes (NYSE:MTH) last released its quarterly earnings data on Tuesday, October 31st. The construction company reported $5.98 earnings per share for the quarter, topping analysts’ consensus estimates of $5.10 by $0.88. Meritage Homes had a net margin of 12.40% and a return on equity of 19.23%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the company earned $7.10 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, research analysts forecast that Meritage Homes will post 19.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Meritage Homes

Institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Meritage Homes in the 2nd quarter valued at $28,000. Hollencrest Capital Management acquired a new position in Meritage Homes in the 1st quarter valued at $29,000. Salem Investment Counselors Inc. increased its stake in Meritage Homes by 52.6% in the 2nd quarter. Salem Investment Counselors Inc. now owns 290 shares of the construction company’s stock valued at $41,000 after buying an additional 100 shares during the period. Carmel Capital Partners LLC purchased a new stake in shares of Meritage Homes during the 3rd quarter worth $38,000. Finally, Versant Capital Management Inc boosted its position in shares of Meritage Homes by 183.5% during the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the construction company’s stock worth $46,000 after purchasing an additional 211 shares in the last quarter. 99.48% of the stock is owned by institutional investors and hedge funds.

About Meritage Homes

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached 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 in Texas, Arizona, California, Colorado, Florida, North Carolina, South Carolina, Georgia, and Tennessee.