Hovnanian Enterprises (NYSE:HOV) Hits New 12-Month Low - Time to Sell?

Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $94.75 and last traded at $95.57, with a volume of 39558 shares. The stock had previously closed at $106.53.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HOV shares. Wedbush reiterated a "neutral" rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a research report on Monday, December 16th. Zelman & Associates restated an "underperform" rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th. Finally, StockNews.com lowered shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Tuesday, March 18th.

Hovnanian Enterprises Trading Down 4.2 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The company's 50 day moving average is $116.03 and its 200 day moving average is $150.77. The stock has a market capitalization of $592.17 million, a price-to-earnings ratio of 3.10 and a beta of 2.43.

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

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Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Hovnanian Enterprises by 92.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company's stock valued at $10,212,000 after buying an additional 23,990 shares in the last quarter. Cerity Partners LLC grew its position in Hovnanian Enterprises by 7.8% during the 3rd quarter. Cerity Partners LLC now owns 2,624 shares of the construction company's stock worth $536,000 after acquiring an additional 190 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Hovnanian Enterprises by 38.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,661 shares of the construction company's stock valued at $544,000 after purchasing an additional 733 shares during the last quarter. FMR LLC grew its holdings in shares of Hovnanian Enterprises by 20.6% during the third quarter. FMR LLC now owns 346 shares of the construction company's stock worth $71,000 after purchasing an additional 59 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Hovnanian Enterprises in the third quarter valued at $635,000. 65.40% of the stock is owned by institutional investors.

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.