Hovnanian Enterprises (NYSE:HOV) Stock Price Down 6.9% - Should You Sell?

Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) shares traded down 6.9% during mid-day trading on Tuesday . The stock traded as low as $127.00 and last traded at $126.42. 26,069 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 66,465 shares. The stock had previously closed at $135.77.

Analyst Upgrades and Downgrades

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

Hovnanian Enterprises Price Performance

The company has a market cap of $738.98 million, a P/E ratio of 3.80 and a beta of 2.71. The company has a fifty day moving average price of $133.66 and a two-hundred day moving average price of $171.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced its quarterly earnings data on Thursday, December 5th. The construction company reported $12.79 earnings per share 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

A number of hedge funds and other institutional investors have recently bought and sold shares of HOV. Philadelphia Financial Management of San Francisco LLC bought a new stake in Hovnanian Enterprises during the third quarter worth $17,449,000. Forager Capital Management LLC lifted its stake 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 worth $25,301,000 after purchasing an additional 72,068 shares during the last quarter. Brightline Capital Management LLC lifted its stake in Hovnanian Enterprises by 68.8% during 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. 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, Cubist Systematic Strategies LLC lifted its stake in Hovnanian Enterprises by 3,566.3% during the fourth 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 last quarter. Institutional investors own 65.40% of the company's stock.

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.