Zelman & Associates Reaffirms "Underperform" Rating for Hovnanian Enterprises (NYSE:HOV)

Zelman & Associates reiterated their underperform rating on shares of Hovnanian Enterprises (NYSE:HOV - Free Report) in a report issued on Friday, Benzinga reports.

HOV has been the subject of a number of other research reports. TheStreet raised Hovnanian Enterprises from a c+ rating to a b- rating in a report on Friday, February 16th. StockNews.com downgraded Hovnanian Enterprises from a buy rating to a hold rating in a report on Sunday, March 3rd.

Hovnanian Enterprises Stock Down 2.9 %

HOV traded down $4.17 on Friday, reaching $141.92. The company's stock had a trading volume of 61,998 shares, compared to its average volume of 82,610. The stock has a market cap of $865.71 million, a price-to-earnings ratio of 5.24 and a beta of 2.61. Hovnanian Enterprises has a 1 year low of $63.39 and a 1 year high of $183.60. The company has a debt-to-equity ratio of 2.19, a current ratio of 4.07 and a quick ratio of 0.86. The business's 50 day moving average is $151.95 and its 200 day moving average is $128.35.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.75 EPS for the quarter. The firm had revenue of $594.20 million during the quarter. Hovnanian Enterprises had a return on equity of 58.22% and a net margin of 7.45%.

Insiders Place Their Bets

In other news, CEO Ara K. Hovnanian sold 1,000 shares of Hovnanian Enterprises stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $157.82, for a total transaction of $157,820.00. Following the transaction, the chief executive officer now directly owns 51,475 shares in the company, valued at approximately $8,123,784.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hovnanian Enterprises

Hedge funds have recently modified their holdings of the stock. State of Wyoming acquired a new position in shares of Hovnanian Enterprises in the 2nd quarter worth $42,000. CWM LLC grew its holdings in shares of Hovnanian Enterprises by 3,541.7% in the 1st quarter. CWM LLC now owns 437 shares of the construction company's stock worth $69,000 after acquiring an additional 425 shares during the last quarter. AJOVista LLC acquired a new position in shares of Hovnanian Enterprises in the 4th quarter worth $97,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Hovnanian Enterprises in the 3rd quarter worth $66,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Hovnanian Enterprises in the 4th quarter worth $29,000. 65.40% of the stock is currently 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.