StockNews.com Lowers Hovnanian Enterprises (NYSE:HOV) to Hold

StockNews.com lowered shares of Hovnanian Enterprises (NYSE:HOV) from a buy rating to a hold rating in a report published on Saturday.

Separately, Zelman & Associates raised Hovnanian Enterprises from an underperform rating to a neutral rating and set a $155.00 price objective for the company in a research note on Thursday, May 23rd.

Hovnanian Enterprises Stock Performance

NYSE:HOV opened at $207.68 on Friday. The stock has a 50-day simple moving average of $155.68 and a two-hundred day simple moving average of $154.49. Hovnanian Enterprises has a 52-week low of $65.22 and a 52-week high of $224.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.32 and a current ratio of 1.35. The firm has a market capitalization of $1.24 billion, a PE ratio of 6.92 and a beta of 2.58.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings results on Wednesday, May 22nd. The construction company reported $6.66 earnings per share (EPS) for the quarter. The business had revenue of $708.38 million during the quarter. Hovnanian Enterprises had a return on equity of 54.85% and a net margin of 8.02%. Analysts forecast that Hovnanian Enterprises will post 27 EPS for the current year.

Insider Buying and Selling

In related news, CEO Ara K. Hovnanian sold 14,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $153.30, for a total value of $2,146,200.00. Following the sale, the chief executive officer now directly owns 34,075 shares in the company, valued at $5,223,697.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Ara K. Hovnanian sold 24,686 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $141.04, for a total value of $3,481,713.44. Following the sale, the chief executive officer now directly owns 32,890 shares in the company, valued at $4,638,805.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ara K. Hovnanian sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $153.30, for a total value of $2,146,200.00. Following the sale, the chief executive officer now owns 34,075 shares in the company, valued at $5,223,697.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,816 shares of company stock worth $6,966,617. Corporate insiders own 17.67% of the company’s stock.

Institutional Investors Weigh In On Hovnanian Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in Hovnanian Enterprises during the second quarter valued at approximately $37,000. CWM LLC raised its position in Hovnanian Enterprises by 3,541.7% during the first quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after purchasing an additional 425 shares during the period. AJOVista LLC purchased a new stake in Hovnanian Enterprises during the fourth quarter valued at approximately $97,000. Russell Investments Group Ltd. raised its position in Hovnanian Enterprises by 27.4% during the fourth quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock valued at $123,000 after purchasing an additional 170 shares during the period. Finally, EntryPoint Capital LLC raised its position in Hovnanian Enterprises by 309.9% during the first quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after purchasing an additional 626 shares during the period. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

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.