BidaskClub cut shares of Hovnanian Enterprises Inc (NYSE:HOV) from a hold rating to a sell rating in a report issued on Friday, July 28th.
Separately, JMP Securities reiterated an underperform rating and issued a $1.30 price target (down from $1.60) on shares of Hovnanian Enterprises in a research report on Friday, April 14th.
Hovnanian Enterprises (NYSE:HOV) traded up 3.11% during mid-day trading on Friday, hitting $2.32. 1,417,051 shares of the stock were exchanged. The company has a market cap of $341.89 million, a P/E ratio of 23.20 and a beta of 1.69. Hovnanian Enterprises has a one year low of $1.52 and a one year high of $2.98. The company has a 50-day moving average price of $2.51 and a 200-day moving average price of $2.37.
Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings results on Friday, June 2nd. The construction company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.01. Hovnanian Enterprises had a net margin of 0.56% and a negative return on equity of 8.20%. The company had revenue of $585.90 million during the quarter, compared to the consensus estimate of $558.55 million. During the same quarter last year, the company earned ($0.06) earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. On average, analysts predict that Hovnanian Enterprises will post $0.05 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of HOV. Spark Investment Management LLC acquired a new position in Hovnanian Enterprises during the first quarter worth approximately $605,000. Canada Pension Plan Investment Board acquired a new position in Hovnanian Enterprises during the first quarter worth approximately $568,000. State Street Corp raised its position in Hovnanian Enterprises by 4.2% in the fourth quarter. State Street Corp now owns 2,031,159 shares of the construction company’s stock worth $5,546,000 after buying an additional 81,265 shares in the last quarter. Nine Chapters Capital Management LLC acquired a new position in Hovnanian Enterprises during the first quarter worth approximately $127,000. Finally, AQR Capital Management LLC raised its position in shares of Hovnanian Enterprises by 30.9% in the fourth quarter. AQR Capital Management LLC now owns 206,254 shares of the construction company’s stock valued at $563,000 after buying an additional 48,654 shares during the period. 29.72% of the stock is currently 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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