Hovnanian Enterprises Inc (NYSE:HOV - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 changing hands.
Analyst Upgrades and Downgrades
HOV has been the topic of several analyst reports. Wedbush reaffirmed a "neutral" rating and set a $120.00 price target on shares of Hovnanian Enterprises in a research report on Wednesday, June 11th. Wall Street Zen downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.
Get Our Latest Research Report on Hovnanian Enterprises
Hovnanian Enterprises Price Performance
The stock has a market capitalization of $708.81 million, a PE ratio of 4.19 and a beta of 2.13. The stock's 50 day moving average is $101.68 and its two-hundred day moving average is $110.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.28 and a current ratio of 1.58.
Hovnanian Enterprises (NYSE:HOV - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.43 EPS for the quarter, missing analysts' consensus estimates of $2.45 by ($0.02). The business had revenue of $686.47 million during the quarter, compared to analyst estimates of $733.20 million. Hovnanian Enterprises had a net margin of 7.03% and a return on equity of 33.18%. The company's revenue for the quarter was down 3.1% on a year-over-year basis.
Insiders Place Their Bets
In other Hovnanian Enterprises news, Director Edward A. Kangas sold 5,500 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $107.12, for a total value of $589,160.00. Following the completion of the transaction, the director owned 5,338 shares of the company's stock, valued at $571,806.56. This trade represents a 50.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 19.77% of the company's stock.
Institutional Investors Weigh In On Hovnanian Enterprises
Several institutional investors have recently modified their holdings of HOV. Victory Capital Management Inc. lifted its position in shares of Hovnanian Enterprises by 23.0% during the 4th quarter. Victory Capital Management Inc. now owns 4,199 shares of the construction company's stock worth $562,000 after purchasing an additional 785 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Hovnanian Enterprises by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company's stock worth $1,186,000 after purchasing an additional 81 shares during the last quarter. Swiss National Bank lifted its position in Hovnanian Enterprises by 5.3% in the fourth quarter. Swiss National Bank now owns 9,900 shares of the construction company's stock valued at $1,325,000 after acquiring an additional 500 shares during the last quarter. Vestcor Inc lifted its position in Hovnanian Enterprises by 16.8% in the fourth quarter. Vestcor Inc now owns 5,009 shares of the construction company's stock valued at $670,000 after acquiring an additional 720 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in Hovnanian Enterprises by 30.5% in the fourth quarter. Intech Investment Management LLC now owns 2,204 shares of the construction company's stock valued at $295,000 after acquiring an additional 515 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.
About Hovnanian Enterprises
(
Get Free Report)
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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