Hovnanian Enterprises Inc (HOV) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Hovnanian Enterprises Inc (NYSE:HOV) from a buy rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Hovnanian Enterprises, Inc. is one of the nation’s largest homebuilders. The Company’s homes are marketed and sold under the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton Homes, Parkwood Builders, Town & Country Homes, Oster Homes and CraftBuilt Homes. The Company has operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Kentucky, Maryland, Minnesota, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia. As the developer of K. Hovnanian’s Four Seasons communities, the Company is also one of the nation’s largest builders of active adult homes. “

Separately, MKM Partners set a $1.80 price objective on Hovnanian Enterprises and gave the company a hold rating in a research report on Monday, September 12th.

Hovnanian Enterprises (NYSE:HOV) traded down 1.09% on Tuesday, reaching $2.72. 1,056,479 shares of the company’s stock were exchanged. The firm’s market cap is $400.65 million. The firm has a 50 day moving average price of $2.52 and a 200 day moving average price of $1.91. Hovnanian Enterprises has a one year low of $1.19 and a one year high of $2.96.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, December 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm earned $805.10 million during the quarter. Hovnanian Enterprises had a negative return on equity of 8.96% and a negative net margin of 0.10%. Hovnanian Enterprises’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. On average, equities analysts anticipate that Hovnanian Enterprises will post $0.05 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This article was originally posted by BBNS and is owned by of BBNS. If you are accessing this article on another domain, it was illegally stolen and republished in violation of U.S. & international copyright & trademark laws. The correct version of this article can be viewed at https://baseballnewssource.com/markets/hovnanian-enterprises-inc-hov-downgraded-by-zacks-investment-research-to-hold/345643.html.

A number of institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its position in Hovnanian Enterprises by 0.7% in the third quarter. California State Teachers Retirement System now owns 257,368 shares of the company’s stock valued at $435,000 after buying an additional 1,800 shares during the period. Rhumbline Advisers raised its position in Hovnanian Enterprises by 1.5% in the third quarter. Rhumbline Advisers now owns 140,435 shares of the company’s stock worth $237,000 after buying an additional 2,130 shares during the last quarter. BlackRock Advisors LLC raised its position in Hovnanian Enterprises by 4.2% in the second quarter. BlackRock Advisors LLC now owns 63,769 shares of the company’s stock worth $107,000 after buying an additional 2,550 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Hovnanian Enterprises by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 378,762 shares of the company’s stock worth $637,000 after buying an additional 5,544 shares during the last quarter. Finally, Dudley & Shanley LLC raised its position in Hovnanian Enterprises by 0.3% in the third quarter. Dudley & Shanley LLC now owns 2,617,200 shares of the company’s stock worth $4,423,000 after buying an additional 8,000 shares during the last quarter. Institutional investors own 26.16% of the company’s stock.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.

5 Day Chart for NYSE:HOV

Receive News & Ratings for Hovnanian Enterprises Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hovnanian Enterprises Inc and related companies with our FREE daily email newsletter.

 

Latest News

Mark Trumbo and Orioles Agree on New Contract
Mark Trumbo and Orioles Agree on New Contract
Toronto and Jose Bautista Agree to One-Year Deal
Toronto and Jose Bautista Agree to One-Year Deal
Orioles Talking Contract with Slugger Jose Bautista
Orioles Talking Contract with Slugger Jose Bautista
Criticism During World Series Humorous to Joe Maddon
Criticism During World Series Humorous to Joe Maddon
Los Angeles Dodgers Awaiting Decision by Twins on Brian Dozier
Los Angeles Dodgers Awaiting Decision by Twins on Brian Dozier
Manny Ramirez Returning to Play Baseball in Japan
Manny Ramirez Returning to Play Baseball in Japan


Leave a Reply

 
© 2006-2017 BBNS.