Sterne Agee Downgrades Meritage Homes Corp to Neutral

Brokerage firm Sterne Agee Downgrades its rating on Meritage Homes Corp(NYSE:MTH). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Sterne Agee was issued on Apr 13, 2016.

In a different note, On Feb 4, 2016, Deutsche Bank said it Maintains its rating on Meritage Homes Corp. In the research note, the firm Lowers the price-target to $51.00 per share. The shares have been rated ‘Buy’ by the firm. On Jan 20, 2016, Barclays said it Maintains its rating on Meritage Homes Corp. According to the research note, Barclays Lowers the price target to $34 per share from a prior target of $43. The shares have been rated ‘Equal-weight’ by the firm.

Meritage Homes Corp (MTH) shares turned negative on Fridays trading session with the shares closing down -0.13 points or -0.34% at a volume of 2,15,106. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $38.96. The peak price level was also seen at $38.96 while the days lowest was $38.19. Finally the shares closed at $38.65. The 52-week high of the shares is $49.36 while the 52-week low is $25.48. According to the latest information available, the market cap of the company is $1,538 M.

Meritage Homes Corp(MTH) last announced its earnings results on Oct 29, 2015 for Fiscal Year 2015 and Q3.Company reported revenue of $669.96M. Analysts had an estimated revenue of $630.81M. Earnings per share were $0.79. Analysts had estimated an EPS of $0.77.

Several Insider Transactions has been reported to the SEC. On Feb 18, 2016, Phillippe Lord (Executive Vice President, COO) sold 1,138 shares at $30.78 per share price.Also, On Feb 18, 2016, C Timothy White (EVP – Gen. Counsel, Secretary) sold 6,812 shares at $30.84 per share price.On Feb 18, 2016, Larry Wayne Seay (Executive VP – CFO) sold 7,957 shares at $30.84 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

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