
Oct. 21 - In this edition of Equity Forum, S&P Equity analyst Kenneth Leon notes that Meritage Homes is the product of the 1997 merger of Texas-based Legacy Homes and Arizona-based Monterey Homes.
It designs, builds and sells single-family homes ranging from entry-level to semi-custom luxury. With its traditional operations in the Southwest, MTH's homes are mostly aimed at first-time and move-up buyers. In 2008, Meritage closed on the sale of 1,488 homes (2,139 in 2007) with a total value of $387 million ($616 million). He currently has a "5-Star" Strong Buy recommendation for Meritage Homes Corp. (MTH).