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

StockNews.com cut shares of Hovnanian Enterprises (NYSE:HOV) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

A number of other analysts have also recently weighed in on the company. Wedbush reiterated a “neutral” rating and set 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 research report on Wednesday, February 12th.

Hovnanian Enterprises Trading Down 0.4 %

NYSE:HOV opened at $111.33 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $122.46 and its two-hundred day moving average is $158.95. Hovnanian Enterprises has a 52 week low of $95.27 and a 52 week high of $240.34. The company has a market cap of $659.60 million, a PE ratio of 3.47 and a beta of 2.85.

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

Institutional Trading of Hovnanian Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Metis Global Partners LLC acquired a new stake in Hovnanian Enterprises in the 3rd quarter valued at approximately $248,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Hovnanian Enterprises by 93.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,779 shares of the construction company’s stock valued at $1,794,000 after acquiring an additional 4,246 shares during the period. Intech Investment Management LLC acquired a new stake in Hovnanian Enterprises in the 3rd quarter valued at approximately $345,000. Foundry Partners LLC increased its position in Hovnanian Enterprises by 53.3% in the 3rd quarter. Foundry Partners LLC now owns 52,809 shares of the construction company’s stock valued at $10,793,000 after acquiring an additional 18,372 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Hovnanian Enterprises by 92.4% in 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 period. 65.40% of the stock is currently 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.