Keefe, Bruyette & Woods Has Lowered Expectations for Meritage Homes (NYSE:MTH) Stock Price

Meritage Homes (NYSE:MTH) had its price objective dropped by investment analysts at Keefe, Bruyette & Woods from $97.00 to $90.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 22.33% from the stock’s previous close.

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

Meritage Homes Stock Performance

Shares of MTH opened at $73.57 on Thursday. The company has a quick ratio of 1.75, a current ratio of 1.61 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.32 billion, a P/E ratio of 5.63 and a beta of 1.88. The business’s 50 day moving average price is $83.81 and its 200-day moving average price is $91.70. Meritage Homes has a 52 week low of $73.05 and a 52 week high of $106.99.

Meritage Homes (NYSE:MTH) last released its earnings results on Wednesday, January 29th. The construction company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.55 by $0.17. Meritage Homes had a return on equity of 15.90% and a net margin of 12.29%. Equities research analysts anticipate that Meritage Homes will post 10.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in shares of Meritage Homes during the 3rd quarter valued at approximately $28,000. Allworth Financial LP boosted its position in shares of Meritage Homes by 545.5% in 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. increased its stake in shares of Meritage Homes by 53.6% in the third quarter. Assetmark Inc. now owns 172 shares of the construction company’s stock worth $35,000 after purchasing an additional 60 shares in the last quarter. 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 purchasing an additional 58 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in shares of Meritage Homes during the 4th quarter valued at $92,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.

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.