Credit Suisse analyst Adam Baumgarten maintained a Buy rating on Meritage (MTH) on July 16 and set a price target of $96.00. The company’s shares closed last Thursday at $89.50, close to its 52-week high of $98.00.
According to TipRanks.com, Baumgarten is a 3-star analyst with an average return of 4.6% and a 56.3% success rate. Baumgarten covers the Consumer Goods sector, focusing on stocks such as Stanley Black & Decker, Mohawk Industries, and Toll Brothers.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Meritage with a $95.57 average price target, a 0.6% upside from current levels. In a report issued on July 21, BTIG also upgraded the stock to Buy with a $109.00 price target.
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The company has a one-year high of $98.00 and a one-year low of $25.24. Currently, Meritage has an average volume of 464.5K.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MTH in relation to earlier this year.
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Meritage Homes Corp. is a holding company, which engages in the development and sale of residential properties. It operates through two segments: Homebuilding and Financial Services. The Homebuilding segment acquires constructs and markets single-detached houses. The Financial Services segment includes the operations of the company’s subsidiary, Carefree Title. Meritage Homes was founded by Steven J. Hilton and William W. Cleverly in 1985 and is headquartered in Scottsdale, AZ.
