{"id":17714,"date":"2013-07-09T23:58:34","date_gmt":"2013-07-10T06:58:34","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=17714"},"modified":"2013-07-09T23:58:34","modified_gmt":"2013-07-10T06:58:34","slug":"meritage-homes-remains-a-top-pick-as-it-fires-on-all-cylinders","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2013\/07\/09\/meritage-homes-remains-a-top-pick-as-it-fires-on-all-cylinders\/","title":{"rendered":"Meritage Homes Remains A Top Pick As It Fires On All Cylinders"},"content":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on April 29, 2013. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

Meritage Homes Corp (MTH) is up 38% since I made it my #1 homebuilder stock for 2013<\/a>. The stock is up 32% year-to-date. Too bad part of my investment strategy for homebuilders in 2013 included only buying on a significant dip. Almost five months later, I have yet to rebuild my exposure to homebuilders. Based on the latest earnings results<\/a> from MTH, it seems I will not get a chance at another attractive discount for quite some time.<\/p>\n


\n
\"Meritage<\/a>
Meritage has twice found firm support at its 200-day moving average during this on-going rally<\/figcaption><\/figure>
\nSource: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

The company’s results on almost every score were absolutely outstanding. The introductory comments from CEO Steve Hilton summarize them well:<\/p>\n

{snip}<\/p>\n

MTH noted that this is the second year in a row that the Spring selling season has started strongly. MTH has now recorded its eighth straight quarter of year-over-year order growth.<\/p>\n

{snip}<\/p>\n

Not surprisingly, MTH’s guidance for the rest of the year is quite strong:<\/p>\n

{snip}<\/p>\n

MTH now trades at fresh 6 1\/2 year high with a price-to-sales ratio of 1.5, price-to-book at 2.5, trailing P\/E of 16.4, and an implied P\/E for 2013 of 20.1 to 22.4. The stock seems fairly-priced at these levels, but I believe the stock could continue to rally on continued growth in the economy. {snip}<\/p>\n

I have posted below a few additional notes from the earnings conference call using the Seeking Alpha transcript<\/a> below. This is not a complete summary, and I have reordered commentary into three themes: financial performance, prices and margins, and the housing market.<\/p>\n

{snip}<\/p>\n

Be careful out there!<\/p>\n

(This is an excerpt from an article I originally published on Seeking Alpha on April 29, 2013. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

Full disclosure: no positions<\/p>\n","protected":false},"excerpt":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on April 29, 2013. Click here to read the entire piece.) Meritage Homes Corp (MTH) is up 38% since I made it my #1 homebuilder stock for 2013. The stock is up 32% year-to-date. Too bad part of my investment strategy for … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[220,35],"tags":[39,891,892],"class_list":["post-17714","post","type-post","status-publish","format-standard","hentry","category-earnings","category-housing","tag-homebuilder","tag-meritage-homes-corporation","tag-mth"],"yoast_head":"\nMeritage Homes Remains A Top Pick As It Fires On All Cylinders - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2013\/07\/09\/meritage-homes-remains-a-top-pick-as-it-fires-on-all-cylinders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meritage Homes Remains A Top Pick As It Fires On All Cylinders - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(This is an excerpt from an article I originally published on Seeking Alpha on April 29, 2013. 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