Meritage Homes (NYSE:MTH) Downgraded to “Sell” Rating by StockNews.com

Meritage Homes (NYSE:MTH) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

Several other analysts have also commented on the company. Seaport Res Ptn upgraded Meritage Homes from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. The Goldman Sachs Group decreased their price target on Meritage Homes from $117.50 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods dropped their price target on Meritage Homes from $97.00 to $90.00 and set a “market perform” rating on the stock in a research note on Thursday, February 6th. 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 report on Wednesday, January 8th. Finally, Wedbush reiterated a “neutral” rating and issued a $103.00 target price on shares of Meritage Homes in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $106.25.

Meritage Homes Stock Up 4.3 %

Shares of MTH stock traded up $2.99 during mid-day trading on Monday, hitting $73.37. 727,604 shares of the stock traded hands, compared to its average volume of 825,542. The stock has a market cap of $5.27 billion, a P/E ratio of 5.61 and a beta of 1.92. The stock’s fifty day moving average is $75.51 and its two-hundred day moving average is $86.79. Meritage Homes has a 52-week low of $68.93 and a 52-week high of $106.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.61 and a quick ratio of 1.75.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data 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 net margin of 12.29% and a return on equity of 15.90%. Equities analysts predict that Meritage Homes will post 9.44 EPS for the current year.

Insider Buying and Selling at Meritage Homes

In related news, COO Clinton Szubinski sold 595 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $73.29, for a total transaction of $43,607.55. Following the completion of the transaction, the chief operating officer now owns 30,547 shares of the company’s stock, valued at $2,238,789.63. This trade represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Alison Sasser sold 676 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $72.03, for a total transaction of $48,692.28. Following the completion of the sale, the chief accounting officer now directly owns 5,933 shares in the company, valued at approximately $427,353.99. The trade was a 10.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,683 shares of company stock worth $122,547. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Meritage Homes

Several hedge funds and other institutional investors have recently bought and sold shares of MTH. Pinnacle Holdings LLC acquired a new position in Meritage Homes in the fourth quarter valued at approximately $31,000. Allworth Financial LP lifted its stake in shares of Meritage Homes by 545.5% in the 4th quarter. Allworth Financial LP now owns 213 shares of the construction company’s stock valued at $33,000 after purchasing an additional 180 shares during the period. Venturi Wealth Management LLC purchased a new stake in Meritage Homes during the fourth quarter worth $92,000. Smartleaf Asset Management LLC grew its position in Meritage Homes by 235.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 677 shares of the construction company’s stock valued at $104,000 after buying an additional 475 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in Meritage Homes in the fourth quarter valued at $130,000. 98.44% of the stock is owned by institutional investors and hedge funds.

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.