Meritage Homes saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 67 to 74.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an RS Rating north of 80 in the early stages of their moves. See if Meritage Homes can continue to show renewed price strength and hit that benchmark.
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While the stock is not near a proper entry right now, see if it manages to form and break out of a proper base.
Top and bottom line growth moved higher last quarter. Earnings were up 43%, compared to -24% in the prior report. Revenue increased from -17% to 15%. Keep an eye out for the company's next round of numbers on or around Jul. 24.
Meritage Homes earns the No. 3 rank among its peers in the Building-Residential/Commercial industry group. PulteGroup is the top-ranked stock within the group.
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