Hovnanian Enterprises (NYSE:HOV) Stock Rating Upgraded by StockNews.com

Hovnanian Enterprises (NYSE:HOV) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Separately, Zelman & Associates upgraded shares of Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 price target for the company in a research note on Thursday, May 23rd.

Hovnanian Enterprises Stock Down 6.2 %

NYSE HOV traded down $11.55 during trading hours on Monday, hitting $174.41. The company’s stock had a trading volume of 79,064 shares, compared to its average volume of 82,246. Hovnanian Enterprises has a 52 week low of $65.22 and a 52 week high of $224.52. The company has a market capitalization of $1.04 billion, a PE ratio of 5.81 and a beta of 2.58. The company has a current ratio of 1.35, a quick ratio of 0.32 and a debt-to-equity ratio of 0.17. The company’s 50-day simple moving average is $160.49 and its two-hundred day simple moving average is $155.95.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings data on Wednesday, May 22nd. The construction company reported $6.66 EPS for the quarter. The firm had revenue of $708.38 million during the quarter. Hovnanian Enterprises had a net margin of 8.02% and a return on equity of 54.85%. Research analysts anticipate that Hovnanian Enterprises will post 27 EPS for the current fiscal year.

Insider Buying and Selling at Hovnanian Enterprises

In related news, Director Robin Stone Sellers sold 1,459 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $154.20, for a total transaction of $224,977.80. Following the sale, the director now owns 22,716 shares of the company’s stock, valued at $3,502,807.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Edward A. Kangas sold 2,000 shares of Hovnanian Enterprises stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $144.72, for a total transaction of $289,440.00. Following the completion of the transaction, the director now directly owns 21,743 shares of the company’s stock, valued at approximately $3,146,646.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robin Stone Sellers sold 1,459 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $154.20, for a total transaction of $224,977.80. Following the completion of the sale, the director now owns 22,716 shares of the company’s stock, valued at approximately $3,502,807.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,816 shares of company stock worth $6,966,617. 17.67% of the stock is currently owned by company insiders.

Institutional Trading of Hovnanian Enterprises

A number of hedge funds have recently added to or reduced their stakes in HOV. Vanguard Group Inc. grew its holdings in shares of Hovnanian Enterprises by 6.1% in the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock valued at $44,011,000 after purchasing an additional 16,012 shares during the period. Dimensional Fund Advisors LP raised its holdings in Hovnanian Enterprises by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 181,338 shares of the construction company’s stock worth $28,221,000 after purchasing an additional 1,433 shares in the last quarter. UBS Group AG increased its holdings in shares of Hovnanian Enterprises by 17.4% in the 4th quarter. UBS Group AG now owns 53,332 shares of the construction company’s stock valued at $8,300,000 after acquiring an additional 7,900 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Hovnanian Enterprises by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 35,054 shares of the construction company’s stock valued at $4,975,000 after acquiring an additional 993 shares during the period. Finally, Foundry Partners LLC grew its position in Hovnanian Enterprises by 26.9% in the 2nd quarter. Foundry Partners LLC now owns 34,437 shares of the construction company’s stock valued at $4,887,000 after buying an additional 7,298 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

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.