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

by · The Markets Daily

Meritage Homes (NYSE:MTH – Get Free Report) had its target price decreased by research analysts at UBS Group from $88.00 to $85.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. UBS Group‘s price objective suggests a potential upside of 32.01% from the stock’s previous close.

Several other equities research analysts also recently commented on MTH. Zelman & Associates downgraded Meritage Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Zacks Research downgraded shares of Meritage Homes from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 8th. Truist Financial lowered their price objective on shares of Meritage Homes from $72.00 to $65.00 and set a “hold” rating on the stock in a research note on Friday. Evercore set a $65.00 target price on shares of Meritage Homes in a research note on Friday, September 25th. Finally, Wall Street Zen cut Meritage Homes from a “hold” rating to a “sell” rating in a report on Saturday. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.44.

Read Our Latest Analysis on MTH

Meritage Homes Stock Down 0.1%

Meritage Homes stock opened at $64.39 on Friday. The company has a 50 day moving average of $64.29 and a 200-day moving average of $69.02. Meritage Homes has a twelve month low of $56.66 and a twelve month high of $85.38. The stock has a market capitalization of $4.20 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 4.83 and a beta of 1.33. The company has a quick ratio of 1.97, a current ratio of 1.72 and a debt-to-equity ratio of 0.37.

Meritage Homes (NYSE:MTH – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The construction company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.06). Meritage Homes had a return on equity of 6.69% and a net margin of 5.79%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm earned $1.39 EPS. The business’s revenue for the quarter was down 17.5% compared to the same quarter last year. On average, equities research analysts anticipate that Meritage Homes will post 4.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MTH. Bamco Inc. NY acquired a new stake in shares of Meritage Homes during the 2nd quarter valued at $112,498,000. Bank of New York Mellon Corp bought a new stake in Meritage Homes during the 2nd quarter worth $68,873,000. Algert Global LLC increased its holdings in Meritage Homes by 267.8% in the 2nd quarter. Algert Global LLC now owns 356,121 shares of the construction company’s stock worth $29,861,000 after purchasing an additional 259,291 shares in the last quarter. SummitTX Capital L.P. increased its holdings in Meritage Homes by 16.1% in the 1st quarter. SummitTX Capital L.P. now owns 471,614 shares of the construction company’s stock worth $29,165,000 after purchasing an additional 65,540 shares in the last quarter. Finally, Atlas FRM LLC bought a new position in Meritage Homes in the second quarter valued at about $18,447,000. Institutional investors own 98.44% of the company’s stock.

Meritage Homes Company Profile

(Get Free Report)

Meritage Homes Corporation is a residential construction company that designs and builds single-family homes in the United States. The company primarily serves entry-level and first-time homebuyers, offering homes in a range of floor plans and communities designed around affordability, energy efficiency and modern features.

Meritage Homes sells homes through its own communities and provides related services, including land acquisition and development, home design, construction, sales and customer support.

Featured Stories