Hovnanian Enterprises (NYSE:HOV) Sets New 12-Month Low - Here's What Happened

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $111.61 and last traded at $116.39, with a volume of 22280 shares traded. The stock had previously closed at $121.57.

Analysts Set New Price Targets

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

Hovnanian Enterprises Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34. The business has a fifty day moving average of $130.19 and a 200-day moving average of $169.53. The stock has a market capitalization of $612.87 million, a price-to-earnings ratio of 3.15 and a beta of 2.71.

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

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Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Hovnanian Enterprises by 64.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,905 shares of the construction company's stock valued at $1,325,000 after acquiring an additional 3,891 shares in the last quarter. Woodson Capital Management LP boosted its holdings in shares of Hovnanian Enterprises by 18.3% during the fourth quarter. Woodson Capital Management LP now owns 35,500 shares of the construction company's stock worth $4,751,000 after purchasing an additional 5,500 shares during the period. Rafferty Asset Management LLC purchased a new position in Hovnanian Enterprises during the fourth quarter valued at approximately $429,000. Millennium Management LLC acquired a new position in Hovnanian Enterprises in the 4th quarter valued at approximately $523,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Hovnanian Enterprises by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,823 shares of the construction company's stock worth $378,000 after buying an additional 117 shares in the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

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.