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MTH - Meritage Homes Is A Good Contrarian Bet At Current Valuations
Meritage Homes Corporation
Meritage Home’s stock price has seen a significant post-earnings correction as analysts are worried about a decline in its community count post strong H2 2020 sales.
The company is ramping up its community count and aims to reach a target of 300 communities by middle of the next year versus 195 communities at the last quarter-end.
The stock is trading at 1.13x its FY2021 year-end tangible book value and I believe it is a strong buy at these levels.