Hovnanian Enterprises (NYSE:HOV) Shares Up 0.5%

Hovnanian Enterprises, Inc. (NYSE:HOV)’s stock price rose 0.5% on Monday . The company traded as high as $26.99 and last traded at $27.00, approximately 9,274 shares changed hands during trading. A decline of 97% from the average daily volume of 297,777 shares. The stock had previously closed at $26.86.

HOV has been the topic of a number of research reports. ValuEngine raised Hovnanian Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Buckingham Research upped their target price on Hovnanian Enterprises from $11.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Finally, Zacks Investment Research lowered Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd.

The business has a 50-day moving average price of $16.93 and a two-hundred day moving average price of $11.77. The company has a market capitalization of $159.82 million, a price-to-earnings ratio of 35.99 and a beta of 1.78.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Thursday, September 5th. The construction company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($1.21). The firm had revenue of $482.04 million for the quarter. Hovnanian Enterprises had a negative return on equity of 0.96% and a net margin of 0.31%. As a group, equities research analysts predict that Hovnanian Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in shares of Hovnanian Enterprises during the 2nd quarter worth $86,000. Price T Rowe Associates Inc. MD bought a new position in shares of Hovnanian Enterprises during the 2nd quarter worth $95,000. Paloma Partners Management Co bought a new position in shares of Hovnanian Enterprises during the 2nd quarter worth $164,000. GSA Capital Partners LLP bought a new position in shares of Hovnanian Enterprises during the 2nd quarter worth $332,000. Finally, Vanguard Group Inc. grew its stake in shares of Hovnanian Enterprises by 28.5% during the 2nd quarter. Vanguard Group Inc. now owns 205,546 shares of the construction company’s stock worth $1,562,000 after acquiring an additional 45,539 shares during the period. 24.49% of the stock is owned by institutional investors and hedge funds.

About Hovnanian Enterprises (NYSE:HOV)

Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company builds and markets homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 123 communities in 25 markets.

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