State of Alaska Department of Revenue Purchases 1,735 Shares of Meritage Homes Co.

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Meritage Homes Intrinsic Value – The State of Alaska Department of Revenue has announced that it has purchased 1,735 shares of Meritage Homes($NYSE:MTH) Co. This purchase is part of the department’s ongoing effort to invest in Alaskan businesses. Meritage Homes Co is a leading homebuilder in the state, and the department believes that this investment will help to support the company’s continued success.

Earnings

Compared to the previous year, this represents a 6.6% increase in total revenue and a 22.8% increase in net income. Over the last three years, Meritage Homes’ total revenue has grown from 4506.3M USD to 5484.9M USD.

Share Price

News coverage of Meritage Homes has been mostly positive so far. On Monday, the company’s stock opened at $73.3 and closed at $70.8, down 3.4% from the previous closing price of $73.3. Despite the recent dip in stock price, analysts believe that the company is still in a good position overall. They cite the company’s strong financials, experienced management team, and robust product offerings as reasons why Meritage Homes is still a good investment.

VI Analysis – Meritage Homes Intrinsic Value Calculator

The company’s fundamentals reflect its long-term potential, and the below analysis on Meritage Homes is made simple by the VI app. The fair value of Meritage Homes share is around $105.0, calculated by VI Line. Now, Meritage Homes stock is traded at $70.8, undervalued by 33%.

Summary

The State of Alaska Department of Revenue has purchased 1,735 shares of Meritage Homes Co. This is largely seen as a positive move, as it indicates that the state believes in the long-term stability and potential of the company. However, the stock price moved down on the news, likely due to concerns about the current state of the housing market.