Hovnanian Enterprises (NYSE:HOV) Sees Strong Trading Volume – Time to Buy?

Hovnanian Enterprises, Inc. (NYSE:HOV) saw unusually-strong trading volume on Friday . Approximately 120,976 shares changed hands during trading, an increase of 53% from the previous session’s volume of 78,938 shares.The stock last traded at $92.24 and had previously closed at $106.53.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wedbush restated a “neutral” rating and issued a $155.00 price target on shares of Hovnanian Enterprises in a research note on Monday, December 16th. StockNews.com downgraded shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday, March 18th. Finally, Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th.

Hovnanian Enterprises Stock Up 10.0 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The firm has a market capitalization of $614.88 million, a P/E ratio of 3.23 and a beta of 2.85. The stock has a fifty day moving average price of $116.03 and a two-hundred day moving average price of $151.28.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Thursday, February 27th. The construction company reported $3.58 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $705.80 million.

Hedge Funds Weigh In On Hovnanian Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Hovnanian Enterprises by 20.6% in the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after purchasing an additional 59 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Hovnanian Enterprises by 0.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company’s stock valued at $1,186,000 after acquiring an additional 81 shares during the period. Rhumbline Advisers boosted its holdings in shares of Hovnanian Enterprises by 1.0% during the fourth quarter. Rhumbline Advisers now owns 8,850 shares of the construction company’s stock valued at $1,184,000 after acquiring an additional 85 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Hovnanian Enterprises by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,823 shares of the construction company’s stock worth $378,000 after acquiring an additional 117 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Hovnanian Enterprises by 7.2% in the 4th quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company’s stock worth $319,000 after acquiring an additional 161 shares during the period. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.