Meritage Homes Corp (MTH) Stock AnalysisMTHMeritage Homes Corp

Meritage Homes Corporation is a designer and builder of single-family attached and detached homes. The Company’s segments include homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes and providing warranty and customer services. It has operations in three regions: West, Central and East, which are comprised of 12 states: Arizona, California, Colorado, Utah, Texas, Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, and Tennessee. These three regions are its principal homebuilding segments. The financial services segment offers title and escrow, mortgage, and insurance services. Its financial services operations also provide mortgage services to its homebuyers through an unconsolidated joint venture. The Company’s homebuilding activities are conducted under the name of Meritage Homes in each of its homebuilding markets. It operates in the Consumer Cyclicals sector (OPERATIVE BUILDERS industry).

Meritage Homes Corp is not a good buy right now. The current price is $58.81, which is below the analyst price target of $65 from Evercore ISI and significantly lower than the $72 target from Truist. Additionally, the RSI is at a low 24.531, indicating oversold conditions, but the overall trend is negative with a 5-day change of -7.89%. The main risk is the recent downgrade from Melius Research, which cites a price target of $59, suggesting further downside potential.

13 analysts cover MTH: 1 rate it Buy, 10 Hold and 2 Sell. The average price target is 85.50.