Meritage Homes (NYSE:MTH) Reaches New 52-Week High at $53.88

Meritage Homes Corp (NYSE:MTH)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $53.88 and last traded at $52.78, with a volume of 190289 shares traded. The stock had previously closed at $53.44.

A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Meritage Homes from a “hold” rating to a “buy” rating in a research note on Monday. Zelman & Associates upgraded shares of Meritage Homes from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $44.31.

The company has a debt-to-equity ratio of 0.75, a current ratio of 1.32 and a quick ratio of 1.32. The company has a 50-day moving average price of $51.50. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.14 and a beta of 1.08.

Meritage Homes (NYSE:MTH) last released its quarterly earnings data on Tuesday, April 23rd. The construction company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $699.00 million for the quarter, compared to analyst estimates of $636.66 million. Meritage Homes had a net margin of 6.00% and a return on equity of 12.18%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS. On average, equities analysts predict that Meritage Homes Corp will post 4.81 EPS for the current year.

In other Meritage Homes news, CFO Hilla Sferruzza sold 5,300 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $50.75, for a total value of $268,975.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Phillippe Lord sold 3,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $50.75, for a total transaction of $152,250.00. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its holdings in Meritage Homes by 126.0% in the 4th quarter. Captrust Financial Advisors now owns 1,096 shares of the construction company’s stock valued at $40,000 after purchasing an additional 611 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Meritage Homes in the 1st quarter valued at about $57,000. PNC Financial Services Group Inc. lifted its holdings in Meritage Homes by 25.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,804 shares of the construction company’s stock valued at $103,000 after purchasing an additional 572 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Meritage Homes by 11.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,943 shares of the construction company’s stock valued at $108,000 after purchasing an additional 304 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Meritage Homes by 18.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,068 shares of the construction company’s stock valued at $137,000 after purchasing an additional 481 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Meritage Homes Company Profile (NYSE:MTH)

Meritage Homes Corporation designs and builds single-family 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 first-time and first move-up buyers. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.

Featured Story: What Is An Exchange-Traded Fund (ETF)?

Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.