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

Hovnanian Enterprises (NYSE:HOV)‘s stock had its “underperform” rating restated by equities researchers at Zelman & Associates in a report released on Wednesday,Benzinga reports.

Separately, Wedbush reissued a “neutral” rating and issued a $155.00 price target on shares of Hovnanian Enterprises in a report on Monday, December 16th.

Hovnanian Enterprises Stock Down 3.7 %

HOV traded down $4.92 on Wednesday, reaching $127.65. The company’s stock had a trading volume of 32,855 shares, compared to its average volume of 67,808. The stock has a market cap of $773.53 million, a price-to-earnings ratio of 3.98 and a beta of 2.71. Hovnanian Enterprises has a 1 year low of $115.90 and a 1 year high of $240.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34. The business’s 50 day moving average is $139.34 and its 200 day moving average is $174.96.

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

Institutional Trading of Hovnanian Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of HOV. Quantbot Technologies LP acquired a new stake in Hovnanian Enterprises during the fourth quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Hovnanian Enterprises during the 3rd quarter worth approximately $33,000. FMR LLC raised its position in shares of Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after purchasing an additional 59 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Hovnanian Enterprises during the 4th quarter worth approximately $120,000. Finally, CWM LLC raised its position in shares of Hovnanian Enterprises by 89.6% during the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after purchasing an additional 354 shares during the period. Institutional investors and hedge funds 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.