TheStreet downgraded shares of Hovnanian Enterprises Inc (NYSE:HOV) from a c- rating to a d rating in a research report report published on Thursday morning.

Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Hovnanian Enterprises from a buy rating to a hold rating in a research report on Thursday, July 13th. MKM Partners restated a neutral rating on shares of Hovnanian Enterprises in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $1.62.

Shares of Hovnanian Enterprises (NYSE HOV) traded up 0.289% during mid-day trading on Thursday, hitting $1.735. The company had a trading volume of 1,197,639 shares. The stock has a market cap of $255.68 million, a price-to-earnings ratio of 17.350 and a beta of 1.66. Hovnanian Enterprises has a 52-week low of $1.52 and a 52-week high of $2.98. The stock’s 50-day moving average is $2.09 and its 200-day moving average is $2.31.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Thursday, September 7th. The construction company reported ($2.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $2.27. The firm had revenue of $592 million during the quarter, compared to analyst estimates of $584.50 million. Hovnanian Enterprises had a negative return on equity of 7.10% and a negative net margin of 12.69%. The business’s revenue for the quarter was down 17.4% compared to the same quarter last year. Equities analysts forecast that Hovnanian Enterprises will post $0.04 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://www.thecerbatgem.com/2017/09/11/hovnanian-enterprises-inc-hov-downgraded-to-d-at-thestreet.html.

Several hedge funds and other institutional investors have recently bought and sold shares of HOV. Stifel Financial Corp increased its holdings in shares of Hovnanian Enterprises by 5.5% in the second quarter. Stifel Financial Corp now owns 38,050 shares of the construction company’s stock valued at $107,000 after buying an additional 1,975 shares in the last quarter. Eqis Capital Management Inc. increased its holdings in shares of Hovnanian Enterprises by 2.6% in the second quarter. Eqis Capital Management Inc. now owns 38,676 shares of the construction company’s stock valued at $108,000 after buying an additional 969 shares in the last quarter. Globeflex Capital L P bought a new position in shares of Hovnanian Enterprises in the second quarter valued at $115,000. Creative Planning increased its holdings in shares of Hovnanian Enterprises by 611.3% in the second quarter. Creative Planning now owns 41,850 shares of the construction company’s stock valued at $117,000 after buying an additional 35,966 shares in the last quarter. Finally, Nine Chapters Capital Management LLC bought a new position in shares of Hovnanian Enterprises in the first quarter valued at $127,000. 31.04% of the stock is currently owned by institutional investors.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.

Receive News & Stock Ratings for Hovnanian Enterprises Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hovnanian Enterprises Inc and related stocks with our FREE daily email newsletter.