Hovnanian Enterprises (NYSE:HOV) Stock Price Up 9.8% – Time to Buy?

Hovnanian Enterprises, Inc. (NYSE:HOV) was up 9.8% on Tuesday . The company traded as high as $131.23 and last traded at $131.23. Approximately 36,093 shares traded hands during trading, a decline of 50% from the average daily volume of 72,283 shares. The stock had previously closed at $119.55.

Analysts Set New Price Targets

Separately, Wedbush reissued a “neutral” rating and issued a $155.00 price target on shares of Hovnanian Enterprises in a research report on Monday, December 16th.

Hovnanian Enterprises Stock Performance

The firm has a market capitalization of $801.08 million, a P/E ratio of 4.12 and a beta of 2.70. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $158.86 and its two-hundred day simple moving average is $179.32.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. lifted its holdings in shares of Hovnanian Enterprises by 16.1% during the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after buying an additional 18,622 shares during the period. Forager Capital Management LLC boosted its position in Hovnanian Enterprises by 3.5% in the third quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company’s stock worth $23,911,000 after purchasing an additional 4,000 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Hovnanian Enterprises by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company’s stock valued at $22,882,000 after purchasing an additional 322 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Hovnanian Enterprises during the 3rd quarter valued at about $17,449,000. Finally, Brightline Capital Management LLC lifted its stake in shares of Hovnanian Enterprises by 68.8% in the 3rd quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock worth $16,554,000 after purchasing an additional 33,000 shares during the period. 65.40% of the stock is owned by institutional investors.

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.