BTIG analyst Carl Reichardt maintained a Hold rating on Meritage (MTH) on April 29. The company’s shares closed last Friday at $106.39, close to its 52-week high of $117.06.
According to TipRanks.com, Reichardt is a 4-star analyst with an average return of 14.2% and a 60.0% success rate. Reichardt covers the Consumer Goods sector, focusing on stocks such as Taylor Morrison, Toll Brothers, and PulteGroup.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Meritage with a $122.33 average price target, representing a 15.6% upside. In a report issued on April 15, Wells Fargo also initiated coverage with a Hold rating on the stock with a $100.00 price target.
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Meritage’s market cap is currently $4.03B and has a P/E ratio of 8.60. The company has a Price to Book ratio of 1.53.
Based on the recent corporate insider activity of 45 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.
