Meritage Homes Corp. (NYSE:MTH) was downgraded by ISI Group to a “buy” rating in a research note issued on Wednesday, American Banking & Market News reports.
Several other analysts have also recently commented on the stock. Analysts at Barclays raised their price target on shares of Meritage Homes Corp. from $46.00 to $47.00 in a research note to investors on Monday, October 21st. They now have an “equal weight” rating on the stock. Separately, analysts at Thomson Reuters/Verus downgraded shares of Meritage Homes Corp. from a “hold” rating to a “sell” rating in a research note to investors on Monday, October 21st. Finally, analysts at Credit Suisse cut their price target on shares of Meritage Homes Corp. from $50.00 to $48.00 in a research note to investors on Tuesday, September 10th. They now have a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $48.72.
In other Meritage Homes Corp. news, COO Steven M. Davis unloaded 6,462 shares of Meritage Homes Corp. stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $47.00, for a total value of $303,714.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Meritage Homes Corp. (NYSE:MTH) opened at 43.42 on Wednesday. Meritage Homes Corp. has a 1-year low of $32.33 and a 1-year high of $52.95. The stock has a 50-day moving average of $43.44 and a 200-day moving average of $44.74. The company has a market cap of $1.573 billion and a price-to-earnings ratio of 9.62.
Meritage Homes Corp. (NYSE:MTH) last released its earnings data on Wednesday, October 23rd. The company reported $0.99 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.80 by $0.19. The company had revenue of $492.10 million for the quarter, compared to the consensus estimate of $505.15 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 43.6% on a year-over-year basis. On average, analysts predict that Meritage Homes Corp. will post $3.00 earnings per share for the current fiscal year.
Meritage Homes Corporation is a designer and builder of single-family attached and detached homes based on the number of home closings.
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