Hovnanian Enterprises (NYSE:HOV) Sets New 12-Month Low - Here's What Happened

Hovnanian Enterprises, Inc. (NYSE:HOV - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $92.51 and last traded at $96.53, with a volume of 90396 shares changing hands. The stock had previously closed at $96.54.

Analyst Ratings Changes

Several analysts recently weighed in on HOV shares. StockNews.com downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Tuesday, March 18th. Zelman & Associates reissued an "underperform" rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th.

Hovnanian Enterprises Trading Down 1.9 %

The business's 50 day simple moving average is $100.77 and its two-hundred day simple moving average is $133.84. The stock has a market cap of $591.17 million, a P/E ratio of 3.12 and a beta of 2.28. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14.

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

Hedge Funds Weigh In On Hovnanian Enterprises

Hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in Hovnanian Enterprises by 0.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company's stock valued at $1,186,000 after purchasing an additional 81 shares during the period. Rhumbline Advisers increased its position in shares of Hovnanian Enterprises by 1.0% during the fourth quarter. Rhumbline Advisers now owns 8,850 shares of the construction company's stock worth $1,184,000 after acquiring an additional 85 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Hovnanian Enterprises by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,823 shares of the construction company's stock worth $378,000 after acquiring an additional 117 shares during the last quarter. Principal Financial Group Inc. lifted its position in Hovnanian Enterprises by 7.2% in the 4th quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company's stock valued at $319,000 after acquiring an additional 161 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Hovnanian Enterprises by 4.0% during the fourth quarter. California State Teachers Retirement System now owns 4,724 shares of the construction company's stock valued at $632,000 after buying an additional 182 shares during the last quarter. Institutional investors 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.