Hovnanian Enterprises (NYSE:HOV) Shares Up 4.6% - What's Next?

Hovnanian Enterprises Inc (NYSE:HOV - Get Free Report) traded up 4.6% on Monday . The company traded as high as $99.53 and last traded at $99.66. 164,295 shares were traded during mid-day trading, an increase of 93% from the average session volume of 84,931 shares. The stock had previously closed at $95.27.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wedbush reissued a "neutral" rating and issued a $120.00 target price on shares of Hovnanian Enterprises in a research note on Wednesday, June 11th. Wall Street Zen lowered Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

Hovnanian Enterprises Stock Performance

The company has a market cap of $610.43 million, a PE ratio of 3.61 and a beta of 2.14. 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 fifty day moving average of $97.98 and a 200-day moving average of $112.99.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced its quarterly 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 business had revenue of $686.47 million for the quarter, compared to analysts' expectations of $733.20 million. The business's revenue was down 3.1% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Forager Capital Management LLC grew its holdings in shares of Hovnanian Enterprises by 61.6% during the 4th quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company's stock worth $25,301,000 after acquiring an additional 72,068 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Hovnanian Enterprises by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 180,913 shares of the construction company's stock worth $24,210,000 after acquiring an additional 602 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of Hovnanian Enterprises by 8.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 121,239 shares of the construction company's stock worth $16,224,000 after acquiring an additional 9,407 shares during the period. GW&K Investment Management LLC grew its holdings in shares of Hovnanian Enterprises by 2.9% during the 1st quarter. GW&K Investment Management LLC now owns 117,739 shares of the construction company's stock worth $12,328,000 after acquiring an additional 3,270 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Hovnanian Enterprises by 1.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 85,956 shares of the construction company's stock worth $11,503,000 after acquiring an additional 1,461 shares during the period. Hedge funds and other 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.