Hovnanian Enterprises (NYSE:HOV) Trading Down 6.9% – Here’s What Happened

Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price was down 6.9% during mid-day trading on Tuesday . The stock traded as low as $127.00 and last traded at $126.42. Approximately 26,069 shares were traded during trading, a decline of 61% from the average daily volume of 66,465 shares. The stock had previously closed at $135.77.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HOV shares. Wedbush restated a “neutral” rating and issued a $155.00 price target on shares of Hovnanian Enterprises in a research report on Monday, December 16th. Zelman & Associates reiterated an “underperform” rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th.

Hovnanian Enterprises Stock Down 4.4 %

The business’s 50 day moving average price is $135.14 and its 200 day moving average price is $172.52. The firm has a market cap of $785.90 million, a price-to-earnings ratio of 4.04 and a beta of 2.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Thursday, December 5th. The construction company reported $12.79 EPS for the quarter. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Hedge Funds Weigh In On Hovnanian Enterprises

Several institutional investors have recently bought and sold shares of the company. Forager Capital Management LLC grew its position in Hovnanian Enterprises by 61.6% in the 4th quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company’s stock valued at $25,301,000 after acquiring an additional 72,068 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Hovnanian Enterprises by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 180,913 shares of the construction company’s stock valued at $24,210,000 after acquiring an additional 602 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in Hovnanian Enterprises by 8.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 121,239 shares of the construction company’s stock valued at $16,224,000 after acquiring an additional 9,407 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Hovnanian Enterprises by 0.3% during the third quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company’s stock worth $22,882,000 after buying an additional 322 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its position in shares of Hovnanian Enterprises by 1.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 85,956 shares of the construction company’s stock worth $11,503,000 after buying an additional 1,461 shares in the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.