Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate Meritage Homes Corp before investing.

In this article, we go over a few key elements for understanding Meritage Homes Corp’s stock price such as:

• Meritage Homes Corp’s current stock price and volume
• Why Meritage Homes Corp’s stock price changed recently
• Upgrades and downgrades for MTH from analysts
• MTH’s stock price momentum as measured by its relative strength

About Meritage Homes Corp (MTH)

Before we jump into Meritage Homes Corp’s stock price, history, target price and what caused it to recently dip, let’s take a look at some background.

Meritage Homes Corporation is a designer and builder of single-family attached and detached homes. Its 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. The Financial Services segment offer title and escrow, mortgage, and insurance services. It has operations in three regions: West, Central and East, which are comprised of 10 states: Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee. These three regions are its principal homebuilding reporting segments. Its homebuilding activities are conducted under the name of Meritage Homes in each of its homebuilding markets. It also operates Carefree Title Agency, Inc., its wholly owned title company, which provides title insurance and closing/settlement services to its homebuyers in certain states.

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Meritage Homes Corp’s Stock Price as of Market Close

As of September 20, 2024, 4:00 PM, CST, Meritage Homes Corp’s stock price was $203.33.

Meritage Homes Corp is down 4.85% from its previous closing price of $213.69.

During the last market session, Meritage Homes Corp’s stock traded between $204.45 and $213.98. Currently, there are 36.32 million shares of Meritage Homes Corp stock available for purchase.

Meritage Homes Corp’s price-earnings (P/E) ratio is currently at 9.4, which is low compared to the Homebuilding industry median of 11.1. The price-earnings ratio gauges market expectation of future performance by relating a stock’s current share price to its earnings per share.

Meritage Homes Corp Stock Price History

Meritage Homes Corp’s (MTH) price is currently up 2.66% so far this month.

During the month of September, Meritage Homes Corp’s stock price has reached a high of $213.98 and a low of $184.96.

Over the last year, Meritage Homes Corp has hit prices as high as $213.98 and as low as $109.23. Year to date, Meritage Homes Corp’s stock is up 120.53%.

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What Caused Meritage Homes Corp Stock’s Price to Dip?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of September 19, 2024, there were 7 analysts who downgraded Meritage Homes Corp’s stock and 1 analyst who upgraded over the last month.

Additionally, you'll want to evaluate Meritage Homes Corp’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on Meritage Homes Corp’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

Meritage Homes Corp’s current valuation based on AAII’s Value Grade is a A, which means it is considered to be Deep Value.

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Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Meritage Homes Corp (MTH) by visiting AAII Stock Evaluator.

Relative Price Strength of Meritage Homes Corp

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of September 19, 2024, Meritage Homes Corp has a weighted four-quarter relative price strength of 12.18%, which translates to a Momentum Score of 88 and is considered to be Very Strong.

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Meritage Homes Corp Stock Price: Bottom Line

As of September 20, 2024, Meritage Homes Corp’s stock price is $203.33, which is down 4.85% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like Meritage Homes Corp stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

Subscribing to AAII's A+ Investor provides access to comprehensive analytics and insights for confident investing.