Hovnanian Enterprises (NYSE:HOV) Lowered to Hold at StockNews.com

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

Separately, Zelman & Associates upgraded Hovnanian Enterprises from an underperform rating to a neutral rating and set a $155.00 target price on the stock in a report on Thursday, May 23rd.

Hovnanian Enterprises Trading Down 3.9 %

Shares of Hovnanian Enterprises stock opened at $207.68 on Friday. The stock has a market cap of $1.24 billion, a P/E ratio of 6.92 and a beta of 2.58. The stock’s 50 day simple moving average is $155.68 and its 200-day simple moving average is $154.49. Hovnanian Enterprises has a 1-year low of $65.22 and a 1-year high of $224.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.32.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Wednesday, May 22nd. The construction company reported $6.66 earnings per share for the quarter. The business had revenue of $708.38 million for the quarter. Hovnanian Enterprises had a return on equity of 54.85% and a net margin of 8.02%. Analysts predict that Hovnanian Enterprises will post 27 EPS for the current fiscal year.

Insider Activity

In other news, Director Robin Stone Sellers sold 1,459 shares of Hovnanian Enterprises stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $154.20, for a total transaction of $224,977.80. Following the sale, the director now owns 22,716 shares of the company’s stock, valued at approximately $3,502,807.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Robin Stone Sellers sold 1,459 shares of Hovnanian Enterprises stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $154.20, for a total transaction of $224,977.80. Following the sale, the director now owns 22,716 shares of the company’s stock, valued at approximately $3,502,807.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward A. Kangas sold 2,000 shares of Hovnanian Enterprises stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $144.72, for a total transaction of $289,440.00. Following the sale, the director now directly owns 21,743 shares in the company, valued at approximately $3,146,646.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,816 shares of company stock valued at $6,966,617. 17.67% of the stock is currently owned by company insiders.

Institutional Trading of Hovnanian Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in Hovnanian Enterprises in the second quarter valued at approximately $37,000. CWM LLC raised its position in Hovnanian Enterprises by 3,541.7% in the first quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after purchasing an additional 425 shares during the period. AJOVista LLC purchased a new stake in Hovnanian Enterprises in the fourth quarter valued at approximately $97,000. Russell Investments Group Ltd. raised its position in Hovnanian Enterprises by 27.4% in the fourth quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock valued at $123,000 after purchasing an additional 170 shares during the period. Finally, EntryPoint Capital LLC raised its position in Hovnanian Enterprises by 309.9% in the first quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after purchasing an additional 626 shares during the period. 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.