Hovnanian Enterprises (NYSE:HOV) Rating Lowered to “Sell” at StockNews.com

Hovnanian Enterprises (NYSE:HOV) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Several other research analysts also recently commented on the company. Wedbush reissued a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a report on Monday, December 16th. Zelman & Associates reissued an “underperform” rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th.

Hovnanian Enterprises Trading Up 1.0 %

Hovnanian Enterprises stock opened at $109.28 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The business’s 50-day simple moving average is $123.29 and its 200-day simple moving average is $160.37. The firm has a market capitalization of $647.48 million, a PE ratio of 3.40 and a beta of 2.85. Hovnanian Enterprises has a 52 week low of $95.27 and a 52 week high of $240.34.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.87. The firm had revenue of $673.62 million for the quarter, compared to analyst estimates of $705.80 million. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Institutional Trading of Hovnanian Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in HOV. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Hovnanian Enterprises during the 3rd quarter valued at $17,449,000. Forager Capital Management LLC raised its position in shares of Hovnanian Enterprises by 61.6% during 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 during the last quarter. Brightline Capital Management LLC raised its position in shares of Hovnanian Enterprises by 68.8% during the 3rd quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock valued at $16,554,000 after acquiring an additional 33,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Hovnanian Enterprises by 92.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock valued at $10,212,000 after acquiring an additional 23,990 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of Hovnanian Enterprises by 3,566.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 21,741 shares of the construction company’s stock valued at $2,909,000 after acquiring an additional 21,148 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

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.