Market Analysts see Meritage Homes Corporation [MTH] gaining to $100. Time to buy?

Meritage Homes Corporation [NYSE: MTH] price surged by 11.68 percent to reach at $11.19. The company report on April 29, 2021 that Meritage Homes Corp. to Host Earnings Call.

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Meritage Homes Corp. (NYSE:MTH) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on April 29, 2021 at 11:00 AM Eastern Time.

To listen to the event live or access a replay of the call – visit https://www.investornetwork.com/event/presentation/76356.

A sum of 1164264 shares traded at recent session while its average daily volume was at 446.19K shares. Meritage Homes Corporation shares reached a high of $107.41 and dropped to a low of $98.60 until finishing in the latest session at $107.00.

The one-year MTH stock forecast points to a potential downside of -0.13. The average equity rating for MTH stock is currently 2.80, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Meritage Homes Corporation [MTH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MTH shares is $106.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MTH stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Meritage Homes Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on April 16, 2021. The new note on the price target was released on March 16, 2021, representing the official price target for Meritage Homes Corporation stock. Previously, the target price had yet another raise to $100, while KeyBanc Capital Markets analysts kept a Overweight rating on MTH stock.

The Average True Range (ATR) for Meritage Homes Corporation is set at 3.52, with the Price to Sales ratio for MTH stock in the period of the last 12 months amounting to 0.89. The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 19.93. Price to Free Cash Flow for MTH in the course of the last twelve months was 7.84.

MTH Stock Performance Analysis:

Meritage Homes Corporation [MTH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.23. With this latest performance, MTH shares gained by 16.20% in over the last four-week period, additionally plugging by 16.10% over the last 6 months – not to mention a rise of 99.78% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MTH stock in for the last two-week period is set at 73.03, with the RSI for the last a single of trading hit 79.28, and the three-weeks RSI is set at 68.33 for Meritage Homes Corporation [MTH]. The present Moving Average for the last 50 days of trading for this stock 90.51, while it was recorded at 97.49 for the last single week of trading, and 93.38 for the last 200 days.

Insight into Meritage Homes Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Meritage Homes Corporation [MTH] shares currently have an operating margin of +11.64 and a Gross Margin at +21.57. Meritage Homes Corporation’s Net Margin is presently recorded at +9.41.

Return on Total Capital for MTH is now 16.32, given the latest momentum, and Return on Invested Capital for the company is 13.26. Return on Equity for this stock inclined to 19.60, with Return on Assets sitting at 11.63. When it comes to the capital structure of this company, Meritage Homes Corporation [MTH] has a Total Debt to Total Equity ratio set at 44.65. Additionally, MTH Total Debt to Total Capital is recorded at 30.87, with Total Debt to Total Assets ending up at 27.07. Long-Term Debt to Equity for the company is recorded at 44.06, with the Long-Term Debt to Total Capital now at 30.46.

Reflecting on the efficiency of the workforce at the company, Meritage Homes Corporation [MTH] managed to generate an average of $269,729 per employee. Receivables Turnover for the company is 48.12 with a Total Asset Turnover recorded at a value of 1.24.

MTH Stock EPS

With the latest financial reports released by the company, Meritage Homes Corporation posted 2.38/share EPS, while the average EPS was predicted by analysts to be reported at 1.43/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 66.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MTH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Meritage Homes Corporation go to 10.90%.

Meritage Homes Corporation [MTH] Insider Position Details

There are presently around $3,515 million, in the hands of institutional investors. The top three institutional holders of MTH stocks are: BLACKROCK INC. with ownership of 6,161,741, which is approximately 2.786% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 4,193,133 shares of the stock with an approximate value of $401.74 million in MTH stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $272.14 million in MTH stock with ownership of nearly -11.668% of the company’s market capitalization.

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Positions in Meritage Homes Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 155 institutional holders increased their position in Meritage Homes Corporation [NYSE:MTH] by around 4,083,925 shares. Additionally, 148 investors decreased positions by around 4,544,932 shares, while 32 investors held positions by with 28,057,808 shares. The mentioned changes placed institutional holdings at 36,686,665 shares, according to the latest SEC report filing. MTH stock had 58 new institutional investments in for a total of 1,270,684 shares, while 37 institutional investors sold positions of 1,569,970 shares during the same period.

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