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

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

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

Hovnanian Enterprises Price Performance

HOV opened at $109.28 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. Hovnanian Enterprises has a 12 month low of $95.27 and a 12 month high of $240.34. The company has a fifty day simple moving average of $123.29 and a 200 day simple moving average of $160.37. The stock has a market cap of $647.48 million, a P/E ratio of 3.40 and a beta of 2.85.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, February 27th. The construction company reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.87. The business had revenue of $673.62 million during 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%.

Hedge Funds Weigh In On Hovnanian Enterprises

Large investors have recently modified their holdings of the business. Quantbot Technologies LP acquired a new position in shares of Hovnanian Enterprises during the 4th quarter worth about $25,000. FMR LLC lifted its stake in Hovnanian Enterprises by 20.6% in the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after purchasing an additional 59 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Hovnanian Enterprises in the 4th quarter valued at about $120,000. Brevan Howard Capital Management LP acquired a new stake in Hovnanian Enterprises in the 4th quarter valued at about $204,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Hovnanian Enterprises in the 3rd quarter valued at about $205,000. 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.