Hovnanian Enterprises (NYSE:HOV) Shares Gap Down - Here's Why

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $132.56, but opened at $125.87. Hovnanian Enterprises shares last traded at $126.55, with a volume of 7,774 shares.

Analysts Set New Price Targets

HOV has been the subject of a number of research reports. Zelman & Associates reiterated an "underperform" rating on shares of Hovnanian Enterprises in a research report on Wednesday. Wedbush reaffirmed 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 company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The stock has a market cap of $820.80 million, a P/E ratio of 4.22 and a beta of 2.71. The business's 50-day moving average price is $136.58 and its 200-day moving average price is $173.61.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last released its quarterly earnings results on Thursday, December 5th. The construction company reported $12.79 earnings per share (EPS) for the quarter. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Hedge Funds Weigh In On Hovnanian Enterprises

Several large investors have recently added to or reduced their stakes in HOV. Allspring Global Investments Holdings LLC purchased a new stake in shares of Hovnanian Enterprises in the third quarter worth $33,000. Quantbot Technologies LP purchased a new stake in Hovnanian Enterprises in the 4th quarter worth $25,000. FMR LLC increased its stake in Hovnanian Enterprises by 20.6% in the 3rd quarter. FMR LLC now owns 346 shares of the construction company's stock worth $71,000 after buying an additional 59 shares in the last quarter. CWM LLC raised its holdings in Hovnanian Enterprises by 89.6% during the third quarter. CWM LLC now owns 749 shares of the construction company's stock valued at $153,000 after acquiring an additional 354 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Hovnanian Enterprises in the fourth quarter valued at about $120,000. Hedge funds and other institutional investors 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.