Hovnanian Enterprises’ (HOV) Underperform Rating Reaffirmed at Zelman & Associates

Zelman & Associates restated their underperform rating on shares of Hovnanian Enterprises (NYSE:HOVFree Report) in a research note published on Friday morning, Benzinga reports.

Several other research analysts also recently commented on the stock. TheStreet upgraded shares of Hovnanian Enterprises from a c+ rating to a b- rating in a report on Friday, February 16th. StockNews.com downgraded shares of Hovnanian Enterprises from a buy rating to a hold rating in a report on Sunday, March 3rd.

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Hovnanian Enterprises Stock Down 2.9 %

HOV stock opened at $141.92 on Friday. The company has a current ratio of 4.07, a quick ratio of 0.86 and a debt-to-equity ratio of 2.19. Hovnanian Enterprises has a 1 year low of $63.39 and a 1 year high of $183.60. The company has a fifty day simple moving average of $151.36 and a 200 day simple moving average of $128.63. The firm has a market cap of $865.71 million, a PE ratio of 5.10 and a beta of 2.61.

Hovnanian Enterprises (NYSE:HOVGet Free Report) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.75 EPS for the quarter. The firm had revenue of $594.20 million for the quarter. Hovnanian Enterprises had a net margin of 7.45% and a return on equity of 58.22%.

Insider Transactions at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $157.82, for a total transaction of $157,820.00. Following the transaction, the chief executive officer now owns 51,475 shares in the company, valued at approximately $8,123,784.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HOV. Tower Research Capital LLC TRC increased its stake in Hovnanian Enterprises by 157.6% in the third quarter. Tower Research Capital LLC TRC now owns 778 shares of the construction company’s stock valued at $28,000 after acquiring an additional 476 shares during the period. Ensign Peak Advisors Inc increased its stake in Hovnanian Enterprises by 95.2% in the third quarter. Ensign Peak Advisors Inc now owns 820 shares of the construction company’s stock valued at $29,000 after acquiring an additional 400 shares during the period. Point72 Asset Management L.P. bought a new stake in Hovnanian Enterprises in the fourth quarter valued at about $29,000. FMR LLC increased its stake in Hovnanian Enterprises by 1,861.5% in the second quarter. FMR LLC now owns 765 shares of the construction company’s stock valued at $33,000 after acquiring an additional 726 shares during the period. Finally, State of Wyoming bought a new stake in Hovnanian Enterprises in the second quarter valued at about $42,000. Institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Company Profile

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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.

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