An issue of Hovnanian Enterprises Inc (NYSE:HOV) bonds rose 1.8% as a percentage of their face value during trading on Monday. The debt issue has a 10.5% coupon and is set to mature on July 15, 2024. The debt is now trading at $105.00. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.

A number of research analysts have weighed in on HOV shares. Zacks Investment Research raised Hovnanian Enterprises from a “sell” rating to a “hold” rating in a report on Monday, March 20th. BidaskClub lowered Hovnanian Enterprises from a “buy” rating to a “hold” rating in a report on Thursday. Finally, JMP Securities reaffirmed an “underperform” rating and set a $1.30 target price (down previously from $1.60) on shares of Hovnanian Enterprises in a report on Friday, April 14th.

Shares of Hovnanian Enterprises Inc (NYSE:HOV) traded up 2.45% during mid-day trading on Monday, hitting $2.51. The stock had a trading volume of 1,924,157 shares. The stock’s 50-day moving average is $2.41 and its 200 day moving average is $2.40. The company has a market cap of $369.89 million, a PE ratio of 25.10 and a beta of 1.72. Hovnanian Enterprises Inc has a 12 month low of $1.52 and a 12 month high of $2.98.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Friday, June 2nd. The construction company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.01. Hovnanian Enterprises had a negative return on equity of 8.20% and a net margin of 0.56%. The business had revenue of $585.90 million for the quarter, compared to analysts’ expectations of $558.55 million. During the same quarter in the prior year, the business posted ($0.06) EPS. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Hovnanian Enterprises Inc will post $0.06 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. boosted its position in Hovnanian Enterprises by 2.6% in the second quarter. Eqis Capital Management Inc. now owns 38,676 shares of the construction company’s stock valued at $108,000 after buying an additional 969 shares in the last quarter. Creative Planning boosted its position in Hovnanian Enterprises by 611.3% in the second quarter. Creative Planning now owns 41,850 shares of the construction company’s stock valued at $117,000 after buying an additional 35,966 shares in the last quarter. Nine Chapters Capital Management LLC purchased a new position in Hovnanian Enterprises during the first quarter valued at $127,000. Brandes Investment Partners LP boosted its position in Hovnanian Enterprises by 20.2% in the first quarter. Brandes Investment Partners LP now owns 56,630 shares of the construction company’s stock valued at $129,000 after buying an additional 9,520 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Hovnanian Enterprises by 83.3% in the first quarter. UBS Asset Management Americas Inc. now owns 59,193 shares of the construction company’s stock valued at $134,000 after buying an additional 26,897 shares in the last quarter. Institutional investors and hedge funds own 30.02% of the company’s stock.

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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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