Meritage Homes (NYSE:MTH) Price Target Lowered to $100.00 at The Goldman Sachs Group

Meritage Homes (NYSE:MTH) had its price objective reduced by investment analysts at The Goldman Sachs Group from $117.50 to $100.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 24.36% from the company’s current price.

A number of other equities analysts have also recently issued reports on MTH. 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 report on Tuesday, November 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $98.50 price target (down from $110.00) on shares of Meritage Homes in a research note on Friday, December 13th. Raymond James lowered Meritage Homes from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. Wedbush reiterated a “neutral” rating and issued a $103.00 target price (down from $205.00) on shares of Meritage Homes in a research report on Tuesday, January 7th. Finally, StockNews.com cut Meritage Homes from a “hold” rating to a “sell” rating in a report on Saturday, January 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $107.38.

Meritage Homes Stock Up 2.4 %

Shares of MTH opened at $80.41 on Tuesday. The firm has a 50 day simple moving average of $88.50 and a two-hundred day simple moving average of $92.55. The company has a market cap of $5.82 billion, a P/E ratio of 3.64 and a beta of 1.87. Meritage Homes has a one year low of $73.05 and a one year high of $106.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $2.67 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.15. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Meritage Homes had a return on equity of 16.89% and a net margin of 12.63%. Meritage Homes’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.99 EPS. Research analysts forecast that Meritage Homes will post 21.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MTH. V Square Quantitative Management LLC bought a new stake in shares of Meritage Homes in the 3rd quarter valued at $28,000. Assetmark Inc. boosted its position in Meritage Homes by 53.6% during the third quarter. Assetmark Inc. now owns 172 shares of the construction company’s stock valued at $35,000 after acquiring an additional 60 shares during the last quarter. Headlands Technologies LLC boosted its position in Meritage Homes by 1,033.3% during the second quarter. Headlands Technologies LLC now owns 272 shares of the construction company’s stock valued at $44,000 after acquiring an additional 248 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Meritage Homes during the 2nd quarter worth about $61,000. Finally, CWM LLC lifted its stake in shares of Meritage Homes by 15.5% in 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. 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.