Hovnanian Enterprises (NYSE:HOV) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

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 trading hands.

Analyst Upgrades and Downgrades

HOV has been the topic of a number of research analyst reports. Wall Street Zen downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Wedbush reiterated a "neutral" rating and issued a $120.00 target price on shares of Hovnanian Enterprises in a research note on Wednesday, June 11th.

Hovnanian Enterprises Trading Up 5.3%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.28 and a current ratio of 1.58. The business has a fifty day simple moving average of $100.40 and a 200 day simple moving average of $110.65. The company has a market cap of $701.93 million, a P/E ratio of 4.15 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 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.02). Hovnanian Enterprises had a net margin of 7.03% and a return on equity of 33.18%. The business had revenue of $686.47 million during the quarter, compared to analyst estimates of $733.20 million. The business's quarterly revenue was down 3.1% on a year-over-year basis.

Insider Transactions at Hovnanian Enterprises

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 5,500 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $107.12, for a total transaction of $589,160.00. Following the transaction, the director directly owned 5,338 shares in the company, valued at $571,806.56. This trade represents a 50.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 19.77% of the company's stock.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of institutional investors have recently added to or reduced their stakes in the company. Forager Capital Management LLC lifted its holdings in Hovnanian Enterprises by 61.6% in the fourth quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company's stock valued at $25,301,000 after buying an additional 72,068 shares during the period. Cubist Systematic Strategies LLC increased its stake in Hovnanian Enterprises by 3,566.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 21,741 shares of the construction company's stock valued at $2,909,000 after buying an additional 21,148 shares during the last quarter. First Trust Advisors LP acquired a new stake in Hovnanian Enterprises in the 4th quarter valued at $2,772,000. GAMMA Investing LLC increased its stake in Hovnanian Enterprises by 12,432.3% in the 1st quarter. GAMMA Investing LLC now owns 15,916 shares of the construction company's stock valued at $16,670,000 after buying an additional 15,789 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Hovnanian Enterprises during the 1st quarter worth about $1,605,000. 65.40% of the stock is owned by institutional investors and hedge funds.

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.