Hovnanian Enterprises (NYSE:HOV) Stock Price Down 8.7% - Should You Sell?

Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report)'s stock price traded down 8.7% on Monday . The stock traded as low as $96.40 and last traded at $95.33. 58,489 shares were traded during trading, a decline of 26% from the average session volume of 78,514 shares. The stock had previously closed at $104.37.

Analyst Ratings Changes

Several equities research analysts have recently commented on HOV shares. Wedbush reiterated a "neutral" rating and set a $155.00 price objective on shares of Hovnanian Enterprises in a research note on Monday, December 16th. StockNews.com cut Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Tuesday, March 18th. Finally, Zelman & Associates reiterated an "underperform" rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th.

Hovnanian Enterprises Stock Down 0.6 %

The business's 50-day moving average is $110.09 and its 200-day moving average is $145.66. The company has a market capitalization of $530.55 million, a price-to-earnings ratio of 2.79 and a beta of 2.43. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last issued its quarterly earnings data 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 net margin of 8.05% and a return on equity of 43.47%. The business had revenue of $673.62 million for the quarter, compared to analysts' expectations of $705.80 million.

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Institutional Investors Weigh In On Hovnanian Enterprises

Several hedge funds have recently modified their holdings of HOV. GAMMA Investing LLC raised its holdings in Hovnanian Enterprises by 12,432.3% in the 1st quarter. GAMMA Investing LLC now owns 15,916 shares of the construction company's stock worth $16,670,000 after purchasing an additional 15,789 shares during the period. California State Teachers Retirement System lifted its position in shares of Hovnanian Enterprises by 4.0% during the 4th quarter. California State Teachers Retirement System now owns 4,724 shares of the construction company's stock valued at $632,000 after buying an additional 182 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Hovnanian Enterprises by 64.7% in 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 during the period. Woodson Capital Management LP increased its holdings in Hovnanian Enterprises by 18.3% in the 4th quarter. Woodson Capital Management LP now owns 35,500 shares of the construction company's stock worth $4,751,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Rafferty Asset Management LLC acquired a new position in Hovnanian Enterprises during the fourth quarter worth $429,000. 65.40% of the stock is owned by hedge funds and other 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.