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

StockNews.com lowered shares of Hovnanian Enterprises (NYSE:HOV) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

HOV has been the topic of several other research reports. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th. Wedbush restated a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a research report on Monday, December 16th.

Hovnanian Enterprises Stock Down 0.5 %

Hovnanian Enterprises stock opened at $109.19 on Tuesday. The firm has a market cap of $646.95 million, a price-to-earnings ratio of 3.40 and a beta of 2.85. Hovnanian Enterprises has a 52 week low of $95.27 and a 52 week high of $240.34. The business’s 50-day moving average price is $122.95 and its 200 day moving average price is $159.62. 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) last posted its earnings results on Thursday, February 27th. The construction company reported $3.58 EPS for the quarter, topping the consensus estimate of $2.71 by $0.87. The firm had revenue of $673.62 million for the quarter, compared to analyst estimates of $705.80 million. 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 hedge funds and other institutional investors have recently made changes to their positions in the company. Metis Global Partners LLC acquired a new stake in shares of Hovnanian Enterprises in the third quarter valued at approximately $248,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Hovnanian Enterprises by 93.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,779 shares of the construction company’s stock valued at $1,794,000 after purchasing an additional 4,246 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Hovnanian Enterprises during the third quarter worth $345,000. Foundry Partners LLC increased its stake in Hovnanian Enterprises by 53.3% during the third quarter. Foundry Partners LLC now owns 52,809 shares of the construction company’s stock worth $10,793,000 after acquiring an additional 18,372 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased 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 acquiring an additional 23,990 shares during the last quarter. Hedge funds and other 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.