Traders Are Bearish Meritage Homes Corporation (MTH) After The Stock Formed Multiple Bottom

July 14, 2018 - By Tamara Reed

Meritage Homes Corporation (NYSE:MTH) Logo

Investors sentiment increased to 1.78 in 2018 Q1. Its up 0.39, from 1.39 in 2017Q4. It is positive, as 18 investors sold Meritage Homes Corporation shares while 40 reduced holdings. 37 funds opened positions while 66 raised stakes. 37.41 million shares or 1.12% less from 37.83 million shares in 2017Q4 were reported.
Balyasny Asset Mgmt Ltd Liability Company reported 148,117 shares. Gabelli Funds Limited has invested 0.04% in Meritage Homes Corporation (NYSE:MTH). Pictet Asset Ltd invested 0.02% of its portfolio in Meritage Homes Corporation (NYSE:MTH). Northwestern Mutual Wealth Mgmt Co holds 0% or 1,000 shares. State Of Wisconsin Invest Board invested in 0.02% or 130,000 shares. Canada Pension Plan Inv Board owns 136,312 shares for 0.01% of their portfolio. Stratos Wealth Partners Limited reported 0% stake. Rafferty Asset Management Ltd holds 15,278 shares. Moreover, Profund Advsr has 0.01% invested in Meritage Homes Corporation (NYSE:MTH). Teacher Retirement System Of Texas stated it has 8,479 shares. Rhumbline Advisers has 94,450 shares. Fifth Third Financial Bank owns 9,167 shares. Panagora Asset Mgmt reported 113,910 shares or 0.02% of all its holdings. Bluemountain Capital holds 15,294 shares. Pdt Prtn Llc holds 120,480 shares or 0.18% of its portfolio.

Since February 12, 2018, it had 0 insider buys, and 8 insider sales for $1.56 million activity. 5,009 Meritage Homes Corporation (NYSE:MTH) shares with value of $217,391 were sold by Lord Phillippe. WHITE C TIMOTHY had sold 8,000 shares worth $370,000. 12,500 Meritage Homes Corporation (NYSE:MTH) shares with value of $550,250 were sold by AX PETER L.

The stock of Meritage Homes Corporation (MTH) shows a multiple bottoms pattern with $43.10 target or 6.00 % below today’s $45.85 share price. The 5 months chart pattern indicates high risk for the $1.86 billion company. It was reported on Jul, 14 by If the $43.10 price target is reached, the company will be worth $111.84M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.86% or $0.4 during the last trading session, reaching $45.85. About 253,489 shares traded. Meritage Homes Corporation (NYSE:MTH) has risen 13.33% since July 14, 2017 and is uptrending. It has outperformed by 0.76% the S&P500.

Analysts await Meritage Homes Corporation (NYSE:MTH) to report earnings on August, 7. They expect $1.11 earnings per share, up 13.27 % or $0.13 from last year’s $0.98 per share. MTH’s profit will be $45.13M for 10.33 P/E if the $1.11 EPS becomes a reality. After $1.07 actual earnings per share reported by Meritage Homes Corporation for the previous quarter, Wall Street now forecasts 3.74 % EPS growth.

Meritage Homes Corporation (NYSE:MTH) Ratings Coverage

Among 11 analysts covering Meritage Corp (NYSE:MTH), 7 have Buy rating, 0 Sell and 4 Hold. Therefore 64% are positive. Meritage Corp has $60 highest and $50.0 lowest target. $54.56’s average target is 19.00% above currents $45.85 stock price. Meritage Corp had 16 analyst reports since January 17, 2018 according to SRatingsIntel. The firm earned “Outperform” rating on Monday, January 22 by Credit Suisse. The stock of Meritage Homes Corporation (NYSE:MTH) has “Neutral” rating given on Wednesday, February 14 by Bank of America. The stock of Meritage Homes Corporation (NYSE:MTH) has “Underperform” rating given on Friday, February 2 by Bank of America. The stock of Meritage Homes Corporation (NYSE:MTH) earned “Market Outperform” rating by JMP Securities on Friday, April 27. As per Wednesday, June 20, the company rating was maintained by Citigroup. The firm has “Overweight” rating by JP Morgan given on Wednesday, March 7. Keefe Bruyette & Woods maintained the shares of MTH in report on Thursday, February 1 with “Hold” rating. JMP Securities maintained the shares of MTH in report on Friday, February 2 with “Market Outperform” rating. On Monday, May 14 the stock rating was upgraded by Bank of America to “Buy”. Credit Suisse maintained Meritage Homes Corporation (NYSE:MTH) rating on Thursday, April 26. Credit Suisse has “Outperform” rating and $53 target.

Another recent and important Meritage Homes Corporation (NYSE:MTH) news was published by which published an article titled: “Opendoor forges partnership with Phoenix home builders” on July 10, 2018.

Meritage Homes Corporation designs and manufactures single-family homes in the United States. The company has market cap of $1.86 billion. The firm operates through two divisions, Homebuilding and Financial Services. It has a 11.67 P/E ratio. It acquires and develops land; and constructs, markets, and sells homes for various homebuyers, including first-time, move-up, active adult, and luxury under the Meritage Homes and Monterey Homes brand names.

Meritage Homes Corporation (NYSE:MTH) Institutional Positions Chart

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