Hovnanian Enterprises (NYSE:HOV) Sets New 52-Week Low – What’s Next?

Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $111.61 and last traded at $116.39, with a volume of 22280 shares changing hands. The stock had previously closed at $121.57.

Wall Street Analysts Forecast Growth

HOV has been the subject of a number of research analyst reports. Wedbush reiterated a “neutral” rating and set a $155.00 price objective on shares of Hovnanian Enterprises in a research report on Monday, December 16th. Zelman & Associates reaffirmed an “underperform” rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th.

Hovnanian Enterprises Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The firm has a market cap of $641.92 million, a price-to-earnings ratio of 3.30 and a beta of 2.71. The business has a fifty day simple moving average of $131.41 and a 200-day simple moving average of $170.47.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, February 27th. The construction company reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.87. The company had revenue of $673.62 million during the quarter, compared to the consensus estimate of $705.80 million. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning acquired a new stake in shares of Hovnanian Enterprises during the third quarter worth $202,000. Allspring Global Investments Holdings LLC bought a new stake in Hovnanian Enterprises during the third quarter valued at $33,000. Farther Finance Advisors LLC boosted its position in Hovnanian Enterprises by 4,983.7% during the third quarter. Farther Finance Advisors LLC now owns 2,186 shares of the construction company’s stock valued at $447,000 after acquiring an additional 2,143 shares during the last quarter. Olympiad Research LP acquired a new stake in Hovnanian Enterprises during the 3rd quarter worth about $225,000. Finally, GSA Capital Partners LLP raised its position in shares of Hovnanian Enterprises by 15.6% in the 3rd quarter. GSA Capital Partners LLP now owns 6,627 shares of the construction company’s stock worth $1,354,000 after acquiring an additional 895 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

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.