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Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Meritage Homes Corporation (NYSE: MTH) hit a new 52-week high Thursday as it is currently trading at $49.43, above its previous 52-week high of $49.05 with 107,701 shares traded as of 10:05 a.m. ET. Average volume has been 617,400 shares over the past 30 days. Meritage Homes has a market cap of $1.62 billion and is part of the industrial goods sector and materials & construction industry. Shares are up 30.5% year to date as of the close of trading on Wednesday. Meritage Homes Corporation engages in designing and building single-family detached homes. It offers a range of homes for various homebuyers, including first-time, move-up, active adult, and luxury. The company provides its homes under the Meritage Homes and Monterey Homes names. The company has a P/E ratio of 15, below the S&P 500 P/E ratio of 17.7.