Hovnanian Enterprises (NYSE:HOV) Shares Down 6.9% – Time to Sell?

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) fell 6.9% during trading on Tuesday . The stock traded as low as $127.00 and last traded at $126.42. 26,069 shares traded 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HOV shares. Wedbush restated 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 restated an “underperform” rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th.

Hovnanian Enterprises Trading Down 0.7 %

The business’s 50 day moving average price is $133.66 and its two-hundred day moving average price is $171.89. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $768.27 million, a price-to-earnings ratio of 3.95 and a beta of 2.71.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Thursday, December 5th. The construction company reported $12.79 earnings per share for the quarter. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%.

Institutional Investors Weigh In On Hovnanian Enterprises

Several hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Hovnanian Enterprises by 64.7% during 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 worth $1,325,000 after buying an additional 3,891 shares during the period. Woodson Capital Management LP boosted its position in Hovnanian Enterprises by 18.3% during the 4th quarter. Woodson Capital Management LP now owns 35,500 shares of the construction company’s stock worth $4,751,000 after buying an additional 5,500 shares during the period. Rafferty Asset Management LLC acquired a new stake in Hovnanian Enterprises during the 4th quarter worth approximately $429,000. Millennium Management LLC acquired a new stake in Hovnanian Enterprises during the 4th quarter worth approximately $523,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Hovnanian Enterprises by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,823 shares of the construction company’s stock worth $378,000 after buying an additional 117 shares during the period. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.