Hovnanian Enterprises Inc (NYSE:HOV) was downgraded by equities researchers at TheStreet from a “c-” rating to a “d” rating in a report released on Thursday, September 7th.
Several other brokerages have also recently weighed in on HOV. BidaskClub cut shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. MKM Partners reaffirmed a “neutral” rating on shares of Hovnanian Enterprises in a research report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Hovnanian Enterprises currently has a consensus rating of “Hold” and an average price target of $1.53.
Hovnanian Enterprises (HOV) traded down 0.862% during mid-day trading on Thursday, hitting $1.725. The stock had a trading volume of 639,414 shares. Hovnanian Enterprises has a 1-year low of $1.52 and a 1-year high of $2.98. The stock’s market cap is $254.60 million. The firm’s 50-day moving average price is $2.01 and its 200-day moving average price is $2.29.
Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Thursday, September 7th. The construction company reported ($2.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($2.27). The company had revenue of $592.00 million during the quarter, compared to the consensus estimate of $584.50 million. Hovnanian Enterprises had a negative return on equity of 7.10% and a negative net margin of 12.69%. The business’s quarterly revenue was down 17.4% on a year-over-year basis. On average, equities analysts expect that Hovnanian Enterprises will post ($0.05) earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Stifel Financial Corp lifted its position in Hovnanian Enterprises by 5.5% during the second quarter. Stifel Financial Corp now owns 38,050 shares of the construction company’s stock valued at $107,000 after acquiring an additional 1,975 shares during the last quarter. Eqis Capital Management Inc. lifted its position in Hovnanian Enterprises by 2.6% during the second quarter. Eqis Capital Management Inc. now owns 38,676 shares of the construction company’s stock valued at $108,000 after acquiring an additional 969 shares during the last quarter. Globeflex Capital L P purchased a new stake in Hovnanian Enterprises during the second quarter valued at approximately $115,000. Creative Planning lifted its position in Hovnanian Enterprises by 611.3% during the second quarter. Creative Planning now owns 41,850 shares of the construction company’s stock valued at $117,000 after acquiring an additional 35,966 shares during the last quarter. Finally, Nine Chapters Capital Management LLC purchased a new stake in Hovnanian Enterprises during the first quarter valued at approximately $127,000. 31.04% of the stock is owned by institutional investors.
Hovnanian Enterprises Company Profile
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.
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