Hovnanian Enterprises (NYSE:HOV) Cut 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 report report published on Tuesday morning.

Other equities research analysts have also issued reports about the company. Wedbush restated a “neutral” rating and set a $155.00 price target on shares of Hovnanian Enterprises in a research note on Monday, December 16th. Zelman & Associates reaffirmed an “underperform” rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th.

Hovnanian Enterprises Stock Performance

Shares of NYSE:HOV opened at $111.33 on Tuesday. The firm has a market capitalization of $659.60 million, a PE ratio of 3.47 and a beta of 2.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34. The business has a 50-day moving average of $122.46 and a two-hundred day moving average of $158.95. Hovnanian Enterprises has a 12 month low of $95.27 and a 12 month high of $240.34.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $3.58 EPS for the quarter, topping the consensus estimate of $2.71 by $0.87. The company had revenue of $673.62 million during 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 Investors Weigh In On Hovnanian Enterprises

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC boosted its position in shares of Hovnanian Enterprises by 20.6% in the third quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after buying an additional 59 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Hovnanian Enterprises by 0.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company’s stock valued at $1,186,000 after purchasing an additional 81 shares during the last quarter. Rhumbline Advisers boosted its holdings in Hovnanian Enterprises by 1.0% in the fourth quarter. Rhumbline Advisers now owns 8,850 shares of the construction company’s stock valued at $1,184,000 after purchasing an additional 85 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Hovnanian Enterprises by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,823 shares of the construction company’s stock valued at $378,000 after purchasing an additional 117 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Hovnanian Enterprises by 7.2% in the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company’s stock valued at $319,000 after purchasing an additional 161 shares during the last quarter. Hedge funds and other 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.