Hovnanian Enterprises (NYSE:HOV) Stock Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Hovnanian Enterprises Inc (NYSE:HOV - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $110.65 and traded as high as $114.75. Hovnanian Enterprises shares last traded at $112.87, with a volume of 243,198 shares traded.

Analysts Set New Price Targets

A number of research firms recently weighed in on HOV. Wedbush restated a "neutral" rating and issued a $120.00 price target on shares of Hovnanian Enterprises in a report on Wednesday, June 11th. Wall Street Zen cut Hovnanian Enterprises from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Hovnanian Enterprises Trading Up 3.6%

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 business has a 50 day moving average of $101.35 and a 200-day moving average of $110.61. The stock has a market cap of $723.36 million, a PE ratio of 4.28 and a beta of 2.13.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last posted its earnings results on Tuesday, May 20th. The construction company reported $2.43 earnings per share (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 company had revenue of $686.47 million during the quarter, compared to analysts' expectations of $733.20 million. The firm's quarterly revenue was down 3.1% on a year-over-year basis.

Insider Buying and Selling at Hovnanian Enterprises

In related news, Director Edward A. Kangas sold 5,500 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $107.12, for a total value of $589,160.00. Following the transaction, the director directly owned 5,338 shares of the company's stock, valued at approximately $571,806.56. This trade represents a 50.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 19.77% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings in Hovnanian Enterprises by 23.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,259 shares of the construction company's stock valued at $132,000 after purchasing an additional 241 shares in the last quarter. Strs Ohio acquired a new stake in Hovnanian Enterprises in the 1st quarter valued at $377,000. Belpointe Asset Management LLC increased its holdings in Hovnanian Enterprises by 15.3% in the 1st quarter. Belpointe Asset Management LLC now owns 3,678 shares of the construction company's stock valued at $385,000 after purchasing an additional 489 shares in the last quarter. Jane Street Group LLC increased its holdings in Hovnanian Enterprises by 436.3% in the 1st quarter. Jane Street Group LLC now owns 9,106 shares of the construction company's stock valued at $953,000 after purchasing an additional 7,408 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Hovnanian Enterprises by 2.0% in the 1st quarter. Empowered Funds LLC now owns 31,294 shares of the construction company's stock valued at $3,277,000 after purchasing an additional 627 shares in the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

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.