Shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 120,976 shares traded hands during trading, an increase of 53% from the previous session's volume of 78,938 shares.The stock last traded at $92.24 and had previously closed at $106.53.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on HOV. StockNews.com downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Tuesday, March 18th. Wedbush reissued a "neutral" rating and set a $155.00 price target on shares of Hovnanian Enterprises in a research note on Monday, December 16th. Finally, Zelman & Associates reissued an "underperform" rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th.
View Our Latest Research Report on Hovnanian Enterprises
Hovnanian Enterprises Price Performance
The stock's 50-day moving average is $113.25 and its 200 day moving average is $148.55. 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 company has a market cap of $568.00 million, a PE ratio of 2.99 and a beta of 2.43.
Hovnanian Enterprises (NYSE:HOV - Get Free Report) last released its earnings results on Thursday, February 27th. The construction company reported $3.58 EPS for the quarter, topping analysts' consensus estimates of $2.71 by $0.87. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The firm had revenue of $673.62 million during the quarter, compared to the consensus estimate of $705.80 million.
Institutional Trading of Hovnanian Enterprises
Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in shares of Hovnanian Enterprises by 7.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company's stock valued at $319,000 after acquiring an additional 161 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Hovnanian Enterprises by 98.5% in the third quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company's stock worth $6,023,000 after acquiring an additional 14,624 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Hovnanian Enterprises during the third quarter worth $687,000. Charles Schwab Investment Management Inc. lifted its stake in Hovnanian Enterprises by 92.4% during 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, Forager Capital Management LLC increased its stake in Hovnanian Enterprises by 3.5% in the third quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company's stock valued at $23,911,000 after purchasing an additional 4,000 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.
Hovnanian Enterprises Company Profile
(
Get Free Report)
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.
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