Ara K. Hovnanian Sells 1,123 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 1,123 shares of Hovnanian Enterprises stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $140.05, for a total value of $157,276.15. Following the transaction, the chief executive officer now directly owns 59,859 shares in the company, valued at $8,383,252.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hovnanian Enterprises Trading Up 1.4 %

NYSE:HOV opened at $141.92 on Friday. The company has a quick ratio of 0.32, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. Hovnanian Enterprises, Inc. has a 1-year low of $65.22 and a 1-year high of $184.42. The firm has a market capitalization of $850.38 million, a price-to-earnings ratio of 4.73 and a beta of 2.45. The stock has a fifty day simple moving average of $152.24 and a 200 day simple moving average of $152.48.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings results on Wednesday, May 22nd. The construction company reported $6.66 earnings per share for the quarter. Hovnanian Enterprises had a return on equity of 54.85% and a net margin of 8.02%. The business had revenue of $708.38 million during the quarter. Sell-side analysts forecast that Hovnanian Enterprises, Inc. will post 27 earnings per share for the current year.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in Hovnanian Enterprises by 2.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,917 shares of the construction company’s stock worth $1,243,000 after acquiring an additional 188 shares during the period. EntryPoint Capital LLC boosted its position in Hovnanian Enterprises by 309.9% during the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after acquiring an additional 626 shares during the period. Vanguard Group Inc. boosted its position in Hovnanian Enterprises by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock worth $44,011,000 after acquiring an additional 16,012 shares during the period. Foundry Partners LLC acquired a new stake in Hovnanian Enterprises during the 1st quarter worth about $4,259,000. Finally, Entropy Technologies LP acquired a new stake in Hovnanian Enterprises during the 1st quarter worth about $205,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HOV has been the topic of a number of research analyst reports. Zelman & Associates raised Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 target price on the stock in a report on Thursday, May 23rd. StockNews.com upgraded Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research report on Monday, June 3rd.

About Hovnanian Enterprises

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.