Hovnanian Enterprises (NYSE:HOV) Upgraded at Zelman & Associates

Zelman & Associates upgraded shares of Hovnanian Enterprises (NYSE:HOVFree Report) from an underperform rating to a neutral rating in a research report report published on Thursday morning, MarketBeat reports. Zelman & Associates currently has $155.00 price target on the construction company’s stock.

Several other research analysts also recently commented on HOV. StockNews.com downgraded shares of Hovnanian Enterprises from a buy rating to a hold rating in a report on Sunday, March 3rd. TheStreet upgraded Hovnanian Enterprises from a c+ rating to a b- rating in a research note on Friday, February 16th.

Get Our Latest Analysis on HOV

Hovnanian Enterprises Stock Performance

HOV opened at $139.52 on Thursday. The stock has a 50-day moving average of $151.66 and a 200-day moving average of $144.12. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.86 and a current ratio of 4.07. Hovnanian Enterprises has a 52-week low of $65.22 and a 52-week high of $184.42. The company has a market cap of $851.07 million, a PE ratio of 4.65 and a beta of 2.62.

Hovnanian Enterprises (NYSE:HOVGet Free Report) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.75 earnings per share (EPS) for the quarter. Hovnanian Enterprises had a return on equity of 57.78% and a net margin of 8.02%. The firm had revenue of $594.20 million during the quarter. As a group, equities research analysts forecast that Hovnanian Enterprises will post 27 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ara K. Hovnanian sold 1,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $157.82, for a total transaction of $157,820.00. Following the transaction, the chief executive officer now owns 51,475 shares of the company’s stock, valued at $8,123,784.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of institutional investors have recently added to or reduced their stakes in HOV. SG Americas Securities LLC lifted its position in shares of Hovnanian Enterprises by 588.9% in the 4th quarter. SG Americas Securities LLC now owns 14,873 shares of the construction company’s stock worth $2,315,000 after acquiring an additional 12,714 shares during the period. UBS Group AG raised its stake in shares of Hovnanian Enterprises by 8.4% in the third quarter. UBS Group AG now owns 45,432 shares of the construction company’s stock valued at $4,619,000 after purchasing an additional 3,528 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Hovnanian Enterprises in the fourth quarter worth $1,460,000. Trexquant Investment LP acquired a new stake in Hovnanian Enterprises during the third quarter worth $447,000. Finally, Los Angeles Capital Management LLC bought a new stake in Hovnanian Enterprises in the 3rd quarter valued at $1,614,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Hovnanian Enterprises Company Profile

(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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