Zelman & Associates Reiterates “Underperform” Rating for Hovnanian Enterprises (NYSE:HOV)

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

Separately, Wedbush reaffirmed a “neutral” rating and set a $155.00 target price on shares of Hovnanian Enterprises in a report on Monday, December 16th.

Hovnanian Enterprises Trading Down 1.9 %

NYSE:HOV opened at $130.08 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $138.15 and its two-hundred day moving average is $174.65. Hovnanian Enterprises has a 52 week low of $115.90 and a 52 week high of $240.34. The company has a market cap of $788.28 million, a PE ratio of 4.05 and a beta of 2.71.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Thursday, December 5th. The construction company reported $12.79 EPS for the quarter. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Institutional Trading of Hovnanian Enterprises

Several hedge funds have recently made changes to their positions in the stock. Forager Capital Management LLC lifted its holdings in shares of Hovnanian Enterprises by 3.5% in the 3rd quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company’s stock worth $23,911,000 after purchasing an additional 4,000 shares during the last quarter. Geode Capital Management LLC increased its position in Hovnanian Enterprises by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company’s stock valued at $22,882,000 after acquiring an additional 322 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new stake in Hovnanian Enterprises in the 3rd quarter valued at approximately $17,449,000. Brightline Capital Management LLC increased its position in Hovnanian Enterprises by 68.8% in the 3rd quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock valued at $16,554,000 after acquiring an additional 33,000 shares during the period. Finally, Foundry Partners LLC increased its position in Hovnanian Enterprises by 24.3% in the 4th quarter. Foundry Partners LLC now owns 65,623 shares of the construction company’s stock valued at $8,782,000 after acquiring an additional 12,814 shares during the period. 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.