Hovnanian Enterprises (NYSE:HOV) Rating Lowered to “Sell” at StockNews.com

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

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

Hovnanian Enterprises Trading Up 2.5 %

NYSE HOV opened at $111.66 on Tuesday. Hovnanian Enterprises has a 12 month low of $95.27 and a 12 month high of $240.34. The stock has a market capitalization of $661.57 million, a P/E ratio of 3.48 and a beta of 2.85. The firm’s 50-day moving average is $122.71 and its two-hundred day moving average is $159.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Thursday, February 27th. The construction company reported $3.58 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $705.80 million.

Institutional Trading of Hovnanian Enterprises

Large investors have recently modified their holdings of the stock. Forager Capital Management LLC increased its holdings in Hovnanian Enterprises by 61.6% during the 4th quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company’s stock worth $25,301,000 after purchasing an additional 72,068 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Hovnanian Enterprises by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 180,913 shares of the construction company’s stock worth $24,210,000 after buying an additional 602 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Hovnanian Enterprises by 8.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 121,239 shares of the construction company’s stock worth $16,224,000 after buying an additional 9,407 shares during the period. Geode Capital Management LLC raised its holdings in Hovnanian Enterprises by 0.3% in the third quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company’s stock valued at $22,882,000 after acquiring an additional 322 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Hovnanian Enterprises by 1.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 85,956 shares of the construction company’s stock worth $11,503,000 after acquiring an additional 1,461 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

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.