Hovnanian Enterprises (NYSE:HOV) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Hovnanian Enterprises (NYSE:HOV) from a sell rating to a hold rating in a research note published on Saturday.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Hovnanian Enterprises in a research note on Thursday, January 22nd. Zacks Research upgraded Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $120.00.

Hovnanian Enterprises Price Performance

Shares of HOV opened at $124.98 on Friday. The company has a 50 day moving average of $116.54 and a two-hundred day moving average of $124.88. The company has a quick ratio of 0.40, a current ratio of 1.58 and a debt-to-equity ratio of 0.04. Hovnanian Enterprises has a twelve month low of $81.15 and a twelve month high of $162.05. The company has a market cap of $743.64 million, a price-to-earnings ratio of 19.14 and a beta of 2.31.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Thursday, December 4th. The construction company reported ($0.51) EPS for the quarter, missing the consensus estimate of $0.63 by ($1.14). Hovnanian Enterprises had a net margin of 1.92% and a return on equity of 14.18%. The business had revenue of $817.90 million for the quarter, compared to analysts’ expectations of $814.50 million. During the same quarter in the prior year, the company posted $13.84 EPS. The business’s revenue for the quarter was down 16.5% on a year-over-year basis.

Institutional Trading of Hovnanian Enterprises

A number of hedge funds have recently modified their holdings of HOV. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Hovnanian Enterprises by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,979 shares of the construction company’s stock valued at $312,000 after acquiring an additional 156 shares in the last quarter. Jane Street Group LLC boosted its holdings in Hovnanian Enterprises by 436.3% during the first quarter. Jane Street Group LLC now owns 9,106 shares of the construction company’s stock worth $953,000 after buying an additional 7,408 shares in the last quarter. AlphaQuest LLC grew its position in Hovnanian Enterprises by 10,727.3% during the second quarter. AlphaQuest LLC now owns 1,191 shares of the construction company’s stock valued at $125,000 after buying an additional 1,180 shares during the period. Teacher Retirement System of Texas increased its holdings in Hovnanian Enterprises by 17.0% in the second quarter. Teacher Retirement System of Texas now owns 15,063 shares of the construction company’s stock valued at $1,575,000 after buying an additional 2,192 shares in the last quarter. Finally, Corton Capital Inc. purchased a new position in Hovnanian Enterprises in the second quarter valued at $481,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.