Meritage ( (MTH) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Meritage Homes shares are moving higher as investors reverse a recent earnings-driven sell-off amid growing optimism about interest-rate policy. Hopes for a more favorable backdrop have been fueled by the upcoming Federal Reserve meeting and a key Senate vote on the next Fed Chair, which could benefit homebuilders.
Adding to the rally, Citizens JMP initiated coverage with a Market Outperform rating and set a $90 price target on Meritage. This fresh analyst endorsement, combined with macroeconomic tailwinds, has helped push the stock into the top ranks of gainers within the consumer cyclical sector.
More about Meritage
YTD Price Performance: 6.22%
Average Trading Volume: 1,006,861
Technical Sentiment Signal: Hold
Current Market Cap: $4.65B
For further insights into MTH stock on TipRanks’ Stock Analysis page.
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