The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Meritage Homes (MTH) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Meritage Homes is one of 101 companies in the Construction group. The Construction group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MTH is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MTH's full-year earnings has moved 52.13% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, MTH has moved about 46.21% on a year-to-date basis. In comparison, Construction companies have returned an average of 1.11%. As we can see, Meritage Homes is performing better than its sector in the calendar year.
Looking more specifically, MTH belongs to the Building Products - Home Builders industry, a group that includes 16 individual stocks and currently sits at #16 in the Zacks Industry Rank. On average, stocks in this group have gained 13.73% this year, meaning that MTH is performing better in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on MTH as it attempts to continue its solid performance.
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