Hovnanian Enterprises (NYSE:HOV) Reaches New 1-Year Low - Here's What Happened

Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report)'s share price reached a new 52-week low on Monday . The stock traded as low as $98.65 and last traded at $99.73, with a volume of 50062 shares trading hands. The stock had previously closed at $101.71.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Zelman & Associates restated an "underperform" rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th. Wedbush reissued a "neutral" rating and set a $155.00 price target on shares of Hovnanian Enterprises in a research report on Monday, December 16th.

Hovnanian Enterprises Stock Performance

The firm's fifty day simple moving average is $126.83 and its 200 day simple moving average is $166.55. The company has a market capitalization of $656.67 million, a PE ratio of 3.38 and a beta of 2.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The construction company reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.87. The business had revenue of $673.62 million during the quarter, compared to analysts' expectations of $705.80 million. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

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Institutional Investors Weigh In On Hovnanian Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in Hovnanian Enterprises during the fourth quarter worth $25,000. FMR LLC raised its position in shares of Hovnanian Enterprises by 20.6% in the third quarter. FMR LLC now owns 346 shares of the construction company's stock worth $71,000 after acquiring an additional 59 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Hovnanian Enterprises during the 4th quarter worth about $120,000. Creative Planning acquired a new stake in shares of Hovnanian Enterprises during the 3rd quarter valued at about $202,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Hovnanian Enterprises in the 3rd quarter valued at about $205,000. Institutional investors and hedge funds own 65.40% of the company's stock.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.