Meritage Homes Corp (NYSE:MTH) had its target price decreased by Barclays from $43.00 to $34.00 in a research note issued to investors on Wednesday morning, MarketBeat reports. Barclays currently has an equal weight rating on the stock.

A number of hedge funds recently added to or reduced their stakes in the company. Fisher Asset Management raised its stake in Meritage Homes Corp by 0.6% in the fourth quarter. Fisher Asset Management now owns 1,713,543 shares of the company’s stock valued at $58,243,000 after buying an additional 11,039 shares during the last quarter. Capstone Asset Management Company raised its stake in Meritage Homes Corp by 1.4% in the fourth quarter. Capstone Asset Management Company now owns 16,300 shares of the company’s stock valued at $554,000 after buying an additional 230 shares in the last quarter. Finally, Quantitative Systematic Strategies acquired a new stake in Meritage Homes Corp during the fourth quarter valued at about $303,000.

Meritage Homes Corp (NYSE:MTH) traded down 3.38% during mid-day trading on Wednesday, reaching $27.17. The company’s stock had a trading volume of 329,898 shares. The stock has a market cap of $1.08 billion and a PE ratio of 9.02. The company has a 50 day moving average of $32.08 and a 200-day moving average of $38.30. Meritage Homes Corp has a 52-week low of $25.48 and a 52-week high of $49.90.

Meritage Homes Corp (NYSE:MTH) last posted its earnings results on Thursday, October 29th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by $0.04. During the same period last year, the firm posted $0.79 earnings per share. The business earned $669.90 million during the quarter, compared to analysts’ expectations of $628.36 million. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. Equities analysts forecast that Meritage Homes Corp will post $2.96 earnings per share for the current year.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reissued a hold rating and issued a $42.00 target price (down from $46.00) on shares of Meritage Homes Corp in a research note on Monday, November 2nd. Credit Suisse reduced their price objective on Meritage Homes Corp from $38.00 to $35.00 in a research report on Friday, October 30th. TheStreet cut Meritage Homes Corp from a buy rating to a hold rating in a research report on Monday, November 16th. Evercore ISI cut Meritage Homes Corp from a buy rating to a hold rating in a research report on Friday, October 30th. Finally, FBR & Co. reduced their price objective on Meritage Homes Corp from $46.00 to $40.00 and set a market perform rating for the company in a research report on Monday, November 2nd. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Meritage Homes Corp has an average rating of Hold and a consensus target price of $41.50.

Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It has homebuilding operations in three regions. The West region comprises Arizona, California and Colorado; Central region include Texas, and the East region comprises Florida, Georgia, North Carolina, South Carolina and Tennessee. It has nine homebuilding operating segments. The homebuilding segments are engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes and providing warranty and customer services. Its homebuilding and marketing activities are conducted under the Meritage Homes brand, other than in Tennessee, where it operates under the Phillips Builders brand, and in the Atlanta and Greenville markets where it operates under the Legendary Communities brand. It also operates as Monterey Homes in some markets.

12 Month Chart for NYSE:MTH

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