Hovnanian Enterprises Inc (HOV) Downgraded to “D” at TheStreet
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.
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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.
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