Hovnanian Enterprises (NYSE:HOV) Reaches New 12-Month Low – Should You Sell?

Hovnanian Enterprises, Inc. (NYSE:HOV) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $111.61 and last traded at $116.39, with a volume of 22280 shares. The stock had previously closed at $121.57.

Analyst Ratings Changes

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

Hovnanian Enterprises Stock Performance

The stock has a 50 day moving average price of $132.96 and a two-hundred day moving average price of $171.50. The company has a market cap of $699.20 million, a P/E ratio of 3.60 and a beta of 2.71. 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 (NYSE:HOV) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.58 EPS for the quarter, beating the consensus estimate of $2.71 by $0.87. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%.

Institutional Trading of Hovnanian Enterprises

Several large investors have recently bought and sold shares of the business. FMR LLC lifted its holdings 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 acquiring an additional 59 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Hovnanian Enterprises by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company’s stock worth $1,186,000 after purchasing an additional 81 shares in the last quarter. Rhumbline Advisers lifted its stake in Hovnanian Enterprises by 1.0% in the 4th 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 position 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 buying an additional 117 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Hovnanian Enterprises during the third quarter worth $33,000. 65.40% of the stock is owned by institutional investors and hedge funds.

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.