Hovnanian Enterprises (NYSE:HOV) Cut to Sell at StockNews.com

StockNews.com cut shares of Hovnanian Enterprises (NYSE:HOV - Free Report) from a hold rating to a sell rating in a research note published on Tuesday.

A number of other research analysts have also weighed in on the company. Zelman & Associates reaffirmed an "underperform" rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th. Wedbush restated a "neutral" rating and set a $155.00 price target on shares of Hovnanian Enterprises in a report on Monday, December 16th.

Hovnanian Enterprises Stock Down 4.6 %

Shares of HOV stock traded down $5.11 during midday trading on Tuesday, reaching $106.14. 70,322 shares of the stock were exchanged, compared to its average volume of 77,299. Hovnanian Enterprises has a 1 year low of $95.27 and a 1 year high of $240.34. The firm has a market cap of $628.87 million, a PE ratio of 3.30 and a beta of 2.85. The company's 50 day moving average is $122.46 and its two-hundred day moving average is $158.95. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced its earnings results 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 firm had revenue of $673.62 million for the quarter, compared to analysts' expectations of $705.80 million.

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Institutional Trading of Hovnanian Enterprises

Several institutional investors have recently added to or reduced their stakes in the business. Philadelphia Financial Management of San Francisco LLC bought a new position in Hovnanian Enterprises during the 3rd quarter valued at about $17,449,000. Forager Capital Management LLC lifted its position in Hovnanian Enterprises by 61.6% during the fourth quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company's stock valued at $25,301,000 after purchasing an additional 72,068 shares during the period. Brightline Capital Management LLC boosted its holdings in Hovnanian Enterprises by 68.8% in the third quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company's stock worth $16,554,000 after purchasing an additional 33,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Hovnanian Enterprises by 92.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company's stock worth $10,212,000 after purchasing an additional 23,990 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Hovnanian Enterprises by 3,566.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 21,741 shares of the construction company's stock worth $2,909,000 after purchasing an additional 21,148 shares during the period. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

About Hovnanian Enterprises

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.