Hovnanian Enterprises (NYSE:HOV) Given “Underperform” Rating at Zelman & Associates

Zelman & Associates reaffirmed their underperform rating on shares of Hovnanian Enterprises (NYSE:HOV) in a report issued on Wednesday,Benzinga reports.

Separately, Wedbush reiterated a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

Hovnanian Enterprises Stock Performance

Shares of NYSE:HOV opened at $130.08 on Wednesday. The firm has a market capitalization of $788.28 million, a PE ratio of 4.05 and a beta of 2.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34. The business has a 50-day moving average of $138.15 and a two-hundred day moving average of $174.65. Hovnanian Enterprises has a 12 month low of $115.90 and a 12 month high of $240.34.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings results on Thursday, December 5th. The construction company reported $12.79 EPS for the quarter. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Institutional Investors Weigh In On Hovnanian Enterprises

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in shares of Hovnanian Enterprises by 98.5% in the third quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company’s stock valued at $6,023,000 after buying an additional 14,624 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Hovnanian Enterprises in the third quarter valued at about $687,000. Charles Schwab Investment Management Inc. boosted its holdings in Hovnanian Enterprises by 92.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock valued at $10,212,000 after purchasing an additional 23,990 shares during the last quarter. Truist Financial Corp purchased a new position in Hovnanian Enterprises in the second quarter valued at about $352,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Hovnanian Enterprises in the third quarter valued at about $33,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

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.