Meritage Homes (NYSE:MTH) Earns “Neutral” Rating from Wedbush

Meritage Homes (NYSE:MTH)‘s stock had its “neutral” rating reissued by equities research analysts at Wedbush in a report issued on Tuesday,RTT News reports. They currently have a $103.00 target price on the construction company’s stock. Wedbush’s target price would suggest a potential upside of 33.65% from the company’s current price. Wedbush also issued estimates for Meritage Homes’ Q1 2025 earnings at $1.75 EPS, Q4 2025 earnings at $3.21 EPS and Q4 2026 earnings at $3.76 EPS.

A number of other brokerages have also commented on MTH. JPMorgan Chase & Co. reaffirmed 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. Keefe, Bruyette & Woods lowered their price objective on shares of Meritage Homes from $105.00 to $99.00 and set a “market perform” rating for the company in a research note on Tuesday, November 5th. Raymond James cut shares of Meritage Homes from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lowered their target price on Meritage Homes from $117.50 to $100.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. 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 assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Meritage Homes has an average rating of “Hold” and an average target price of $107.38.

Meritage Homes Price Performance

NYSE MTH opened at $77.07 on Tuesday. 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 business’s fifty day moving average is $84.61 and its 200 day moving average is $91.97. The company has a market capitalization of $5.58 billion, a PE ratio of 5.89 and a beta of 1.88. Meritage Homes has a fifty-two week low of $73.05 and a fifty-two week high of $106.99.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.72 EPS 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%. Sell-side analysts predict that Meritage Homes will post 10.52 earnings per share for the current year.

Hedge Funds Weigh In On Meritage Homes

Hedge funds and other institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Meritage Homes in the 3rd quarter valued at $28,000. Allworth Financial LP raised its stake in Meritage Homes by 545.5% during the fourth 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. grew its stake in shares of Meritage Homes by 53.6% in 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 shares of Meritage Homes by 15.5% during the 3rd quarter. CWM LLC now owns 433 shares of the construction company’s stock valued at $89,000 after buying an additional 58 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in Meritage Homes in the fourth quarter worth approximately $92,000. Hedge funds and other 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.