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

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

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

Hovnanian Enterprises Stock Up 3.2 %

Shares of NYSE HOV opened at $108.45 on Friday. The firm’s 50-day moving average price is $126.34 and its 200-day moving average price is $165.71. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $656.67 million, a price-to-earnings ratio of 3.38 and a beta of 2.85. Hovnanian Enterprises has a 12-month low of $95.26 and a 12-month high of $240.34.

Hovnanian Enterprises (NYSE:HOV) last announced its 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 analysts’ expectations of $705.80 million. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%.

Institutional Trading of Hovnanian Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Hovnanian Enterprises in the 4th quarter worth about $25,000. FMR LLC grew its stake in Hovnanian Enterprises by 20.6% in the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after acquiring an additional 59 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Hovnanian Enterprises in the 4th quarter worth about $120,000. Creative Planning bought a new position in Hovnanian Enterprises in the 3rd quarter worth about $202,000. Finally, Brevan Howard Capital Management LP bought a new position in Hovnanian Enterprises in the 4th quarter worth about $204,000. 65.40% of the stock is owned by hedge funds and other 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.