Meritage Homes Corporation (MTH) Reaches New 52-Week High


The company is so far trading up by 0.93% percent from yesterday’s close. Shares last traded at $48.85 significantly higher than the 50 day moving average of $43.89 and which is well above the 200 day moving average of $41.63. The 50 day moving average moved up $4.96 and the 200 day average went up $7.22 or +17.35%.

Traders are feeling more bullish on shares of the company of late if you watch the fall in short interest. The company realized a fall in short interest of -11.88% between September 15, 2017 and September 29, 2017. Short interest decreased from 3,170,232 to 2,793,712 over that timeframe. Days to cover decreased -3.0 to 11.0 and the percentage of shorted shares is 0.07% as of September 29.

Meritage Homes Corporation, launched on May 26, 1988, operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is involved in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services. The Company builds homes in the regions of the United States and offers a range of homes that are designed for a range of homebuyers, including first-time, move-up, active adult and luxury..

These firms have modified their investment in MTH. As of quarter end Capital Impact Advisors, LLC had disposed of 11,285 shares trimming its holdings by 27.7%. The value of the company’s investment in Meritage Homes Corporation decreased from $1,499,000 to $1,243,000 a change of 17.1% for the reporting period. State of Alaska, Department of Revenue bolstered its holdings by buying 40 shares an increase of 0.5% from 06/30/2017 to 09/30/2017. State of Alaska, Department of Revenue currently owns 7,525 shares worth $334,000. The value of the position overall is up by 6.0%.

As of the end of the quarter Hexavest Inc. had bought a total of 25,319 shares growing its stake by 3.0%. The value of the total investment in Meritage Homes Corporation went from $35,806,000 to $38,797,000 a change of $2,991,000 quarter to quarter. Fisher Asset Management, LLC trimmed its investment by shedding 14,782 shares a decrease of 0.9% as of 09/30/2017. Fisher Asset Management, LLC claims 1,705,165 shares valued at $75,709,000. The total value of its holdings increased 4.3%.

On August 2 Barclays maintained a company rating of “Underweight” and lowered the price expectation from $42.00 to $38.00. August 2 investment analysts at Deutsche Bank kept the stock rating at “Hold” but lowered the price expectation to $42.00 from $44.00.

The company currently has a P/E ratio of 13.44 and market capitalization is 1.97B. As of the last earnings report the EPS was $3.63 and is expected to be $3.76 for the current year with 40,320,000 shares now outstanding. Next quarter’s EPS is expected be $1.32 and the next full year EPS is projected to be $4.35.