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

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

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

Hovnanian Enterprises Trading Up 3.2 %

Shares of HOV stock opened at $108.45 on Friday. Hovnanian Enterprises has a 1 year low of $95.26 and a 1 year high of $240.34. The firm has a fifty day moving average price of $126.34 and a 200-day moving average price of $165.71. 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 company has a market cap of $656.67 million, a price-to-earnings ratio of 3.38 and a beta of 2.85.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Thursday, February 27th. The construction company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.87. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%. The firm had revenue of $673.62 million during the quarter, compared to the consensus estimate of $705.80 million.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HOV. JPMorgan Chase & Co. lifted its stake in Hovnanian Enterprises by 98.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company’s stock worth $6,023,000 after purchasing an additional 14,624 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Hovnanian Enterprises in the 3rd quarter worth $687,000. Charles Schwab Investment Management Inc. lifted its stake in Hovnanian Enterprises by 92.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock worth $10,212,000 after purchasing an additional 23,990 shares in the last quarter. Forager Capital Management LLC lifted its stake in Hovnanian Enterprises by 3.5% in the 3rd quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company’s stock worth $23,911,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Barclays PLC lifted its stake in Hovnanian Enterprises by 352.6% in the 3rd quarter. Barclays PLC now owns 8,274 shares of the construction company’s stock worth $1,691,000 after purchasing an additional 6,446 shares in the last quarter. 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.