Hovnanian Enterprises, Inc. Class A (NYSE:HOV) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $1.47 and last traded at $1.48, with a volume of 17154 shares changing hands. The stock had previously closed at $1.51.

A number of research firms have recently issued reports on HOV. JMP Securities upgraded shares of Hovnanian Enterprises, Inc. Class A from an “underperform” rating to a “market perform” rating and set a $1.30 price target for the company in a research report on Tuesday, October 9th. ValuEngine downgraded Hovnanian Enterprises, Inc. Class A from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd.

The company has a debt-to-equity ratio of -0.15, a quick ratio of 0.23 and a current ratio of 0.81.

Hovnanian Enterprises, Inc. Class A (NYSE:HOV) last issued its quarterly earnings data on Monday, September 10th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The company had revenue of $456.70 million for the quarter, compared to analyst estimates of $504.30 million. During the same quarter in the prior year, the firm earned ($2.28) earnings per share. The company’s revenue for the quarter was down 22.9% on a year-over-year basis.

Several institutional investors have recently modified their holdings of HOV. MetLife Investment Advisors LLC raised its position in shares of Hovnanian Enterprises, Inc. Class A by 235.6% during the 1st quarter. MetLife Investment Advisors LLC now owns 62,850 shares of the construction company’s stock worth $115,000 after purchasing an additional 44,124 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of Hovnanian Enterprises, Inc. Class A by 86.5% during the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 141,000 shares of the construction company’s stock worth $258,000 after purchasing an additional 65,400 shares during the last quarter. Lucas Capital Management acquired a new position in shares of Hovnanian Enterprises, Inc. Class A during the 2nd quarter worth approximately $341,000. California Public Employees Retirement System raised its position in shares of Hovnanian Enterprises, Inc. Class A by 33.5% during the 1st quarter. California Public Employees Retirement System now owns 272,776 shares of the construction company’s stock worth $499,000 after purchasing an additional 68,476 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Hovnanian Enterprises, Inc. Class A by 444.7% during the 1st quarter. Millennium Management LLC now owns 501,400 shares of the construction company’s stock worth $918,000 after purchasing an additional 409,349 shares during the last quarter. Hedge funds and other institutional investors own 37.16% of the company’s stock.

About Hovnanian Enterprises, Inc. Class A (NYSE:HOV)

Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company markets its build homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 130 communities in 24 markets.

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