NEW YORK ( TheStreet) -- Meritage Homes Corporation (NYSE: MTH) hit a new 52-week high Wednesday as it is currently trading at $29.61, above its previous 52-week high of $29.54 with 138,004 shares traded as of 9:55 a.m. ET. Average volume has been 561,800 shares over the past 30 days.

Meritage Homes has a market cap of $917.3 million and is part of the industrial goods sector and materials & construction industry. Shares are up 20.8% year to date as of the close of trading on Tuesday.

Meritage Homes Corporation engages in designing and building single-family detached homes. It provides various homes under the Meritage Homes and Monterey Homes names for a range of homebuyers, including first-time, move-up, luxury, and active adult buyers.

TheStreet Ratings rates Meritage Homes as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including generally poor debt management, disappointing return on equity and poor profit margins. You can view the full Meritage Homes Ratings Report.

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