UBS Group Issues Pessimistic Forecast for Meritage Homes (NYSE:MTH) Stock Price

Meritage Homes (NYSE:MTH) had its price target reduced by equities research analysts at UBS Group from $126.00 to $118.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. UBS Group’s price target suggests a potential upside of 55.02% from the stock’s previous close.

Several other equities research analysts have also commented on MTH. Wedbush reaffirmed a “neutral” rating and set a $103.00 price target (down previously from $205.00) on shares of Meritage Homes in a research report on Tuesday. StockNews.com raised shares of Meritage Homes from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $98.50 price target (down previously from $110.00) on shares of Meritage Homes in a research note on Friday, December 13th. Raymond James lowered Meritage Homes from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods decreased their target price on Meritage Homes from $105.00 to $99.00 and set a “market perform” rating on the stock in a report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $109.56.

Meritage Homes Stock Up 2.2 %

MTH opened at $76.12 on Wednesday. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 3.45 and a beta of 1.82. The firm has a 50 day moving average price of $89.53 and a 200-day moving average price of $92.51. Meritage Homes has a twelve month low of $73.05 and a twelve month high of $106.99. 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) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.15. Meritage Homes had a return on equity of 16.89% and a net margin of 12.63%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the firm earned $2.99 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts forecast that Meritage Homes will post 21.27 earnings per share for the current year.

Institutional Investors Weigh In On Meritage Homes

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in shares of Meritage Homes during the third quarter worth $28,000. Assetmark Inc. boosted its holdings in shares of 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 purchasing an additional 60 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Meritage Homes by 1,033.3% during the second quarter. Headlands Technologies LLC now owns 272 shares of the construction company’s stock valued at $44,000 after purchasing an additional 248 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Meritage Homes in the second quarter worth about $61,000. Finally, CWM LLC lifted its position in shares of Meritage Homes by 15.5% in the third quarter. CWM LLC now owns 433 shares of the construction company’s stock worth $89,000 after buying an additional 58 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

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