StockNews.com Downgrades Hovnanian Enterprises (NYSE:HOV) to Sell

Hovnanian Enterprises (NYSE:HOV) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

A number of other research analysts also recently commented on the stock. Zelman & Associates reaffirmed an “underperform” rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th. Wedbush reaffirmed a “neutral” rating and set a $155.00 price objective on shares of Hovnanian Enterprises in a report on Monday, December 16th.

Hovnanian Enterprises Trading Up 2.5 %

HOV opened at $111.66 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. Hovnanian Enterprises has a one year low of $95.27 and a one year high of $240.34. The company has a market cap of $661.57 million, a P/E ratio of 3.48 and a beta of 2.85. The business’s 50-day simple moving average is $122.71 and its 200-day simple moving average is $159.28.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.87. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The firm had revenue of $673.62 million during the quarter, compared to the consensus estimate of $705.80 million.

Institutional Investors Weigh In On Hovnanian Enterprises

Large investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Hovnanian Enterprises in the 4th quarter valued at $25,000. FMR LLC grew its position in Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after purchasing an additional 59 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Hovnanian Enterprises in the fourth quarter valued at $120,000. Brevan Howard Capital Management LP purchased a new stake in shares of Hovnanian Enterprises in the fourth quarter valued at about $204,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Hovnanian Enterprises in the third quarter valued at about $205,000. 65.40% of the stock is 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.