Hovnanian Enterprises (NYSE:HOV) Stock Rating Lowered by Wall Street Zen

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

Other equities analysts also recently issued research reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Hovnanian Enterprises in a research note on Wednesday, October 8th. Zacks Research upgraded Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $120.00.

Hovnanian Enterprises Price Performance

Shares of Hovnanian Enterprises stock opened at $101.34 on Friday. The business’s fifty day moving average price is $117.21 and its 200 day moving average price is $123.66. Hovnanian Enterprises has a twelve month low of $81.15 and a twelve month high of $162.05. The company has a current ratio of 1.58, a quick ratio of 0.40 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $602.97 million, a P/E ratio of 13.53 and a beta of 2.10.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, December 4th. The construction company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of $0.63 by ($1.14). Hovnanian Enterprises had a net margin of 2.14% and a return on equity of 15.33%. The firm had revenue of $817.90 million during the quarter, compared to analyst estimates of $814.50 million. During the same period in the prior year, the firm earned $13.84 earnings per share. The business’s revenue for the quarter was down 16.5% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new position in shares of Hovnanian Enterprises during the 3rd quarter valued at approximately $35,000. Osaic Holdings Inc. boosted its stake in Hovnanian Enterprises by 72.1% during the 2nd quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock valued at $45,000 after acquiring an additional 181 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Hovnanian Enterprises by 614.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock worth $58,000 after acquiring an additional 479 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Hovnanian Enterprises by 553.9% in the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $104,000 after purchasing an additional 842 shares during the last quarter. Finally, AlphaQuest LLC raised its stake in shares of Hovnanian Enterprises by 10,727.3% in the 2nd quarter. AlphaQuest LLC now owns 1,191 shares of the construction company’s stock valued at $125,000 after purchasing an additional 1,180 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Company Profile

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.