Meritage Homes (NYSE:MTH) Price Target Cut to $90.00 by Analysts at Keefe, Bruyette & Woods

Meritage Homes (NYSE:MTH) had its price objective reduced by stock analysts at Keefe, Bruyette & Woods from $97.00 to $90.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 16.09% from the stock’s previous close.

MTH has been the subject of several other research reports. Raymond James cut Meritage Homes from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. StockNews.com cut shares of Meritage Homes from a “hold” rating to a “sell” rating in a research note on Saturday, January 11th. The Goldman Sachs Group cut their target price on Meritage Homes from $117.50 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. UBS Group decreased their price objective on shares of Meritage Homes from $126.00 to $118.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Wedbush reiterated a “neutral” rating and issued a $103.00 price target on shares of Meritage Homes in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.25.

Meritage Homes Stock Performance

Shares of NYSE MTH traded up $0.36 during mid-day trading on Thursday, hitting $77.53. The stock had a trading volume of 78,612 shares, compared to its average volume of 1,002,292. The company has a 50 day moving average of $84.61 and a two-hundred day moving average of $91.97. Meritage Homes has a twelve month low of $73.05 and a twelve month 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. The firm has a market cap of $5.61 billion, a PE ratio of 5.93 and a beta of 1.88.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $4.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.55 by $0.17. Meritage Homes had a net margin of 12.29% and a return on equity of 15.90%. Research analysts predict that Meritage Homes will post 10.52 EPS for the current fiscal year.

Institutional Trading of Meritage Homes

A number of hedge funds have recently bought and sold shares of MTH. V Square Quantitative Management LLC purchased a new position in shares of Meritage Homes in the third quarter worth approximately $28,000. Allworth Financial LP grew its position in Meritage Homes by 545.5% during 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 in the last quarter. Assetmark Inc. raised its stake 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 purchasing an additional 60 shares during the period. CWM LLC lifted its holdings in shares of Meritage Homes by 15.5% in the third quarter. CWM LLC now owns 433 shares of the construction company’s stock valued at $89,000 after purchasing an additional 58 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Meritage Homes in the fourth quarter worth $92,000. 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.