Wall Street Zen Upgrades Hovnanian Enterprises (NYSE:HOV) to “Hold”

Hovnanian Enterprises (NYSE:HOV) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities research analysts have also recently issued reports on the company. Zacks Research upgraded Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Hovnanian Enterprises in a report on Thursday, January 22nd. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $120.00.

Hovnanian Enterprises Trading Down 1.0%

HOV stock opened at $124.98 on Friday. Hovnanian Enterprises has a one year low of $81.15 and a one year high of $162.05. The stock has a market cap of $743.64 million, a price-to-earnings ratio of 19.14 and a beta of 2.28. The company has a fifty day moving average price of $116.54 and a two-hundred day moving average price of $124.67. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 0.40.

Hovnanian Enterprises (NYSE:HOV) last posted its earnings results on Thursday, December 4th. The construction company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($1.14). Hovnanian Enterprises had a return on equity of 14.18% and a net margin of 1.92%.The company had revenue of $817.90 million for the quarter, compared to analyst estimates of $814.50 million. During the same quarter in the prior year, the business posted $13.84 EPS. The business’s quarterly revenue was down 16.5% compared to the same quarter last year.

Institutional Trading of Hovnanian Enterprises

Large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new position in shares of Hovnanian Enterprises in the third quarter worth $35,000. Osaic Holdings Inc. increased its holdings in Hovnanian Enterprises by 72.1% in the 2nd quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock valued at $45,000 after buying an additional 181 shares during the period. Tower Research Capital LLC TRC increased its holdings in Hovnanian Enterprises by 614.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock valued at $58,000 after buying an additional 479 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Hovnanian Enterprises in the 4th quarter valued at approximately $117,000. Finally, AlphaQuest LLC lifted its holdings in shares of Hovnanian Enterprises by 10,727.3% during the 2nd quarter. AlphaQuest LLC now owns 1,191 shares of the construction company’s stock worth $125,000 after acquiring an additional 1,180 shares during the period. 65.40% of the stock is owned by institutional investors and hedge funds.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.