Hovnanian Enterprises (NYSE:HOV) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Hovnanian Enterprises (NYSE:HOV) from a hold rating to a buy rating in a report issued on Friday morning.

Separately, Zelman & Associates raised shares of Hovnanian Enterprises from an underperform rating to a neutral rating and set a $155.00 price target on the stock in a report on Thursday, May 23rd.

Hovnanian Enterprises Price Performance

Shares of NYSE:HOV opened at $180.65 on Friday. The company’s fifty day moving average price is $152.44 and its 200-day moving average price is $152.64. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 6.02 and a beta of 2.58. Hovnanian Enterprises has a one year low of $65.22 and a one year high of $192.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.32.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings results on Wednesday, May 22nd. The construction company reported $6.66 EPS for the quarter. The firm had revenue of $708.38 million for the quarter. Hovnanian Enterprises had a net margin of 8.02% and a return on equity of 54.85%. On average, equities research analysts anticipate that Hovnanian Enterprises will post 27 earnings per share for the current fiscal year.

Insider Activity at Hovnanian Enterprises

In related news, Director Robin Stone Sellers sold 1,459 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $154.20, for a total transaction of $224,977.80. Following the transaction, the director now owns 22,716 shares of the company’s stock, valued at approximately $3,502,807.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Hovnanian Enterprises news, Director Edward A. Kangas sold 2,000 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $144.72, for a total value of $289,440.00. Following the sale, the director now owns 21,743 shares of the company’s stock, valued at approximately $3,146,646.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robin Stone Sellers sold 1,459 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $154.20, for a total transaction of $224,977.80. Following the completion of the sale, the director now directly owns 22,716 shares in the company, valued at approximately $3,502,807.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,816 shares of company stock valued at $6,966,617. Insiders own 17.67% of the company’s stock.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in Hovnanian Enterprises by 27.4% in the 4th quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock worth $123,000 after acquiring an additional 170 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Hovnanian Enterprises by 2.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,917 shares of the construction company’s stock worth $1,243,000 after acquiring an additional 188 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Hovnanian Enterprises by 11.8% in the 1st quarter. Principal Financial Group Inc. now owns 2,971 shares of the construction company’s stock worth $466,000 after acquiring an additional 313 shares during the last quarter. CWM LLC grew its holdings in 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. Finally, AJOVista LLC bought a new stake in Hovnanian Enterprises in the 4th quarter worth $97,000. 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.