Hovnanian Enterprises Inc (NYSE:HOV - Get Free Report) shares saw strong trading volume on Tuesday . 209,730 shares were traded during mid-day trading, an increase of 144% from the previous session's volume of 85,780 shares.The stock last traded at $104.10 and had previously closed at $103.37.
Analysts Set New Price Targets
HOV has been the subject of several analyst reports. Wall Street Zen downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Wedbush reissued a "neutral" rating and set a $120.00 target price on shares of Hovnanian Enterprises in a research report on Wednesday, June 11th.
Read Our Latest Stock Report on Hovnanian Enterprises
Hovnanian Enterprises Price Performance
The company has a current ratio of 1.58, a quick ratio of 0.28 and a debt-to-equity ratio of 0.11. The firm has a market cap of $638.59 million, a PE ratio of 3.78 and a beta of 2.14. The business has a fifty day moving average of $97.98 and a 200-day moving average of $112.99.
Hovnanian Enterprises (NYSE:HOV - Get Free Report) last released its earnings results on Tuesday, May 20th. The construction company reported $2.43 EPS for the quarter, missing analysts' consensus estimates of $2.45 by ($0.02). Hovnanian Enterprises had a net margin of 7.03% and a return on equity of 33.18%. The firm had revenue of $686.47 million during the quarter, compared to the consensus estimate of $733.20 million. Hovnanian Enterprises's revenue was down 3.1% compared to the same quarter last year.
Institutional Investors Weigh In On Hovnanian Enterprises
Institutional investors have recently added to or reduced their stakes in the company. Forager Capital Management LLC raised its holdings in shares of Hovnanian Enterprises by 61.6% during the fourth quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company's stock valued at $25,301,000 after acquiring an additional 72,068 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in Hovnanian Enterprises by 3,566.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 21,741 shares of the construction company's stock worth $2,909,000 after purchasing an additional 21,148 shares during the period. First Trust Advisors LP purchased a new stake in Hovnanian Enterprises in the fourth quarter worth $2,772,000. GAMMA Investing LLC grew its holdings in Hovnanian Enterprises by 12,432.3% in the first quarter. GAMMA Investing LLC now owns 15,916 shares of the construction company's stock worth $16,670,000 after purchasing an additional 15,789 shares during the period. Finally, Nuveen LLC purchased a new position in Hovnanian Enterprises during the first quarter valued at $1,605,000. Hedge funds and other institutional investors own 65.40% of the company's stock.
About Hovnanian Enterprises
(
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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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