The Company is a designer & builder of single-family attached & detached homes in southern & western US. It offers a variety of homes that are designed to appeal to a range of homebuyers, including first-time, move-up, luxury & active adult buyers.
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[And this STILL goes up. Argh! This pick is killing my score and I want to end it already.]
BOSTON -- UBS analysts David Goldberg and Susan Maklari on Tuesday downgraded shares of home-builder Meritage Corp. to sell from neutral, citing valuation. Since July 14, Meritage shares have risen 98%, or well ahead of the group average of 48%, according to UBS. "Although we continue to believe the company is well positioned to weather the downturn and emerge stronger, we believe ... this is already reflected in the current valuation," the analysts wrote in a report to clients.
Copyright © 2008 MarketWatch, Inc.
Let's see if this news can get me into the green:Meritage Homes Corp. said late Monday that its third-quarter loss widened to $144 million, or $4.69 a share, from $118.6 million, or $4.52 a share, in the year-ago period. Revenue fell to $374.8 million from $578.6 million last year. Analysts surveyed by FactSet Research estimated revenue of $409.4 million.Copyright © 2008 MarketWatch, Inc.
FLORIDA BUILDER GREEN THUMBED IT ON 10/28 AND ITS UP OVER 100% SINCE THEN... I FOLLOWED HIM AND I HAVE A HARD TIME BELIEVING HE IS WRONG SINCE HE QUIT CAPS AND ONLY HAS TWO GREEN THUMBS... DO YOU THINK THIS RETURNS TO $8?
Keep in mind that my red thumb was made January 23rd. By FloridaBuilder's own admission he does make mistakes timing his picks. Once I saw that he'd green-thumbed this one, I was (and still am) hoping that his timing is off.
As I stated in my thumbs down entry in September 08, this is a stock operating in a very troubled industry, with no bright spots that I can see. In regards to UBS, me thinks they are getting a bit bi-polar. For 2008, they have rated MTH as:Feb - BUYMar - NeutralSep - SellOct - BuyNov - NeutralThey obviously cater to the traders of the world .
sehawk99,That grading certainly does look bipolar...I think they set ratings to help them control their own positions and bring in new suckers.
unfortuantely my timing isn't off on this one... it will pull back, but only if the SPY pulls back so net net this thing will never turn green for you.MTH sure start turning a profit within the next year
At the time I was here only about 3 months and red-thumbing every home builder out there. I had considered dumping it and consider it a lost cause, but I'm still going to hold out hope for a while yet. It looks like this turning green for me is a long shot, but I also buy lottery tickets once in a while, too.
I finally closed MHO today at +5 so there is still hope. Woulld like to hear from Floridabuilder as he has been quiet and only 3 of his picks are currently green. Still pain ahead for this industry and interest rates are at historic lows.