Keefe, Bruyette & Woods Has Lowered Expectations for Meritage Homes (NYSE:MTH) Stock Price

Meritage Homes (NYSE:MTH - Get Free Report) had its price objective dropped by research analysts at Keefe, Bruyette & Woods from $97.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "market perform" rating on the construction company's stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 20.88% from the company's current price.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. restated a "neutral" rating and set a $98.50 target price (down from $110.00) on shares of Meritage Homes in a research report on Friday, December 13th. UBS Group cut their price objective on Meritage Homes from $126.00 to $118.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group reduced their price target on shares of Meritage Homes from $117.50 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Wedbush reaffirmed a "neutral" rating and issued a $103.00 price target on shares of Meritage Homes in a research note on Tuesday, February 4th. Finally, StockNews.com lowered Meritage Homes from a "hold" rating to a "sell" rating in a research report on Saturday, January 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $106.25.

Meritage Homes Stock Up 0.9 %

Shares of Meritage Homes stock traded up $0.69 during trading hours on Thursday, reaching $74.45. The company's stock had a trading volume of 869,605 shares, compared to its average volume of 1,008,965. The company has a market capitalization of $5.39 billion, a P/E ratio of 5.69 and a beta of 1.88. The stock's fifty day simple moving average is $83.81 and its two-hundred day simple moving average is $91.63. Meritage Homes has a one year low of $73.05 and a one year high of $106.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.61.

Meritage Homes (NYSE:MTH - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.72 EPS for the quarter, topping analysts' consensus estimates of $4.55 by $0.17. Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. On average, research analysts forecast that Meritage Homes will post 10.02 earnings per share for the current year.

Institutional Investors Weigh In On Meritage Homes

A number of hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in Meritage Homes during the 3rd quarter valued at approximately $28,000. Allworth Financial LP boosted its holdings in shares of Meritage Homes by 545.5% in the 4th quarter. Allworth Financial LP now owns 213 shares of the construction company's stock worth $33,000 after purchasing an additional 180 shares during the period. Assetmark Inc. raised its holdings in Meritage Homes by 53.6% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the construction company's stock valued at $35,000 after buying an additional 60 shares during the period. CWM LLC raised its position in Meritage Homes by 15.5% in the 3rd quarter. CWM LLC now owns 433 shares of the construction company's stock worth $89,000 after purchasing an additional 58 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Meritage Homes in the 4th quarter worth $92,000. Institutional investors own 98.44% of the company's stock.

Meritage Homes Company Profile

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 entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.