Meritage Homes (NYSE:MTH) Price Target Lowered to $198.00 at Keefe, Bruyette & Woods

Meritage Homes (NYSE:MTH - Get Free Report) had its target price reduced by investment analysts at Keefe, Bruyette & Woods from $210.00 to $198.00 in a report released on Tuesday, Benzinga reports. The firm currently has a "market perform" rating on the construction company's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 3.78% from the stock's current price.

A number of other analysts also recently issued reports on MTH. Raymond James increased their target price on shares of Meritage Homes from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Wolfe Research upgraded shares of Meritage Homes from a "peer perform" rating to an "outperform" rating and set a $230.00 target price on the stock in a report on Wednesday, August 14th. The Goldman Sachs Group upgraded Meritage Homes from a "neutral" rating to a "buy" rating and increased their price target for the company from $205.00 to $235.00 in a report on Thursday, October 31st. Wedbush raised Meritage Homes from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $160.00 to $195.00 in a research report on Tuesday, October 15th. Finally, StockNews.com lowered Meritage Homes from a "buy" rating to a "hold" rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $218.17.

Meritage Homes Trading Up 2.8 %

Shares of MTH stock traded up $5.21 during trading hours on Tuesday, hitting $190.79. 372,788 shares of the company were exchanged, compared to its average volume of 410,372. Meritage Homes has a 1 year low of $129.42 and a 1 year high of $213.98. The firm has a fifty day moving average of $195.47 and a 200 day moving average of $182.74. The firm has a market cap of $6.90 billion, a PE ratio of 8.54 and a beta of 1.82. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26.

Meritage Homes (NYSE:MTH - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $5.34 EPS for the quarter, topping analysts' consensus estimates of $5.05 by $0.29. Meritage Homes had a return on equity of 16.89% and a net margin of 12.63%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm posted $5.98 EPS. The business's revenue for the quarter was down 1.5% on a year-over-year basis. Analysts expect that Meritage Homes will post 21.16 earnings per share for the current year.

Institutional Investors Weigh In On Meritage Homes

Several hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in shares of Meritage Homes in the third quarter worth $28,000. Assetmark Inc. boosted its position in Meritage Homes by 53.6% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the construction company's stock worth $35,000 after acquiring an additional 60 shares during the period. Headlands Technologies LLC boosted its position in Meritage Homes by 1,033.3% during the 2nd quarter. Headlands Technologies LLC now owns 272 shares of the construction company's stock worth $44,000 after acquiring an additional 248 shares during the period. Point72 Hong Kong Ltd purchased a new position in Meritage Homes during the 2nd quarter valued at about $61,000. Finally, Picton Mahoney Asset Management acquired a new position in shares of Meritage Homes in the 2nd quarter valued at about $64,000. 98.44% of the stock is owned by hedge funds and other institutional investors.

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.