Hovnanian Enterprises (NYSE:HOV) Downgraded to "Sell" Rating by StockNews.com

Hovnanian Enterprises (NYSE:HOV - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

A number of other equities analysts have also commented on HOV. Wedbush reiterated a "neutral" rating and set a $155.00 price target on shares of Hovnanian Enterprises in a report on Monday, December 16th. Zelman & Associates reiterated an "underperform" rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th.

Hovnanian Enterprises Price Performance

NYSE:HOV traded up $3.38 during mid-day trading on Friday, reaching $108.45. The stock had a trading volume of 112,861 shares, compared to its average volume of 79,079. The stock has a 50-day simple moving average of $126.34 and a two-hundred day simple moving average of $165.71. The stock has a market capitalization of $656.67 million, a PE ratio of 3.38 and a beta of 2.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34. Hovnanian Enterprises has a 12 month low of $95.26 and a 12 month high of $240.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last posted its earnings results on Thursday, February 27th. The construction company reported $3.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.87. The firm 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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Hedge Funds Weigh In On Hovnanian Enterprises

Hedge funds have recently modified their holdings of the business. Creative Planning acquired a new position in Hovnanian Enterprises in the third quarter valued at $202,000. Olympiad Research LP acquired a new position in Hovnanian Enterprises in the third quarter valued at $225,000. GSA Capital Partners LLP lifted its holdings in Hovnanian Enterprises by 15.6% in the third quarter. GSA Capital Partners LLP now owns 6,627 shares of the construction company's stock valued at $1,354,000 after buying an additional 895 shares during the period. Metis Global Partners LLC acquired a new position in Hovnanian Enterprises in the third quarter valued at $248,000. Finally, Empowered Funds LLC lifted its holdings in Hovnanian Enterprises by 5.3% in the third quarter. Empowered Funds LLC now owns 29,206 shares of the construction company's stock valued at $5,969,000 after buying an additional 1,474 shares during the period. Institutional investors and hedge funds 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.