Meritage Homes Corporation (MTH) Reached A New High 4 times During The Past Five Days


As of Wednesday close, Meritage Homes Corporation’s (NYSE:MTH) stock was up $2.16, moving up 2.58 percent to $85.77. The average number of shares traded per day over the past five days has been 205,760 shares. 4 times new highs have been achieved over the past 5 days, with a $2.50 gain in that time frame. In the last twenty days, the average volume was 307,950, while in the previous 50 days, it was 377,792.

Since last month, MTH stock rose 17.41%. Shares of the company fell to $68.07 on 10/24/22, the lowest level in the past month. A 52-week high of $125.01 was reached on 01/03/22 after having rallying from a 52-week low of $62.51. Since the beginning of this year, MTH’s stock price has dropped by -29.73% or -$36.29, and marked a new high 1 time. However, the stock has declined by -31.39% since its 52-week high.

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MTH stock investors should be aware that Meritage Homes Corporation (MTH) stock had its last reported insider trading activity 85 days ago on Aug 31. HADDOCK GERALD W, the Director of the company, disposed of 2,000 shares for $78.79 on Aug 31. It resulted in a $157,580 divestment by the insider. Sasser Alison sold 1,000 shares at an average price of $87.92 on Aug 15. The insider now owns 1,443 shares following the transaction. On Mar 08, Chief Executive Officer Lord Phillippe sold 1,111 shares at $94.39 apiece. The transaction was valued at $104,867.

Valuation Metrics

Right now, Meritage Homes Corporation (MTH) has a P/E ratio of about 3.31. The stock’s beta is 1.57. Besides these, the trailing price-to-sales (P/S) ratio of 0.54, the price-to-book (PB) ratio of 0.85.

Financial Health

According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.31, and the total debt-to-equity ratio was 0.31. On the profitability front, the trailing twelve-month gross margin is 24.90% percent. In the year ended September 29, operating margins totaled 21.70%. Based on annual data, MTH earned $1.44 billion in gross profit and brought in $5.14 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 17.50%. Return on equity (ROE) for the past 12 months was 29.10%.

In Meritage Homes Corporation’s quarter-end financial report for September 29, it reported total debt of $12.46 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. MTH’s revenue rose 17.43% to $447.97 million during the quarter, while net income inched up to $453.85 million. While analysts expected Meritage Homes Corporation to report $6.45 quarterly earnings, the actual figure was $7.1 per share, beating the consensus estimate by 10.10%. During the quarter, the company generated $335.39 million in EBITDA. The liabilities of Meritage Homes Corporation were 1.89 billion at the end of its most recent quarter ended September 29, and its total debt was $1.16 billion. The value of shareholders’ equity is $36.57 million.

Technical Picture

This quick technical analysis looks at Meritage Homes Corporation’s (MTH) price momentum. With a historical volatility rate of 29.39%, the RSI 9-day stood at 71.92% on 23 November.

With respect to its five-day moving average, the current Meritage Homes Corporation price is up by +3.00% percent or $2.50. At present, MTH shares trade +18.25% above its 20-day simple moving average and +7.40% percent above its 100-day simple moving average. However, the stock is currently trading approximately +18.27% above its SMA50 and -8.87% below its SMA200.

Stochastic coefficient K was 83.66% and Stochastic coefficient D was 75.89%, while ATR was 3.11. Given the Stochastic reading of 97.88% for the 14-day period, the RSI (14) reading has been calculated as 66.77%. As of today, the MACD Oscillator reading stands at 0.66, while the 14-day reading stands at 3.27.

Analyst Ratings

KeyBanc Capital Markets upgraded its rating on Meritage Homes Corporation (NYSE: MTH) to an Overweight in a note to investors on September 19, 2022. The analysts firm previously had a Sector weight rating on the stock.Meritage Homes Corporation (MTH) has been rated Overweight by analysts. According to 0 brokerage firms, MTH is a sell, and 5 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 0 analysts rate Meritage Homes Corporation stock as buy, with 5 recommending it as overweight.

With a median target price of $96.00, the current consensus forecast for the stock is $87.00 – $140.00. Based on these forecasts, analysts predict Meritage Homes Corporation (MTH) will achieve an average price target of $102.25.


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