Hovnanian Enterprises (NYSE:HOV) Upgraded at Zelman & Associates

Hovnanian Enterprises (NYSE:HOV) was upgraded by equities research analysts at Zelman & Associates from an “underperform” rating to a “neutral” rating in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $155.00 price objective on the construction company’s stock. Zelman & Associates’ price objective indicates a potential upside of 6.75% from the stock’s previous close.

Several other equities research analysts have also commented on HOV. TheStreet raised Hovnanian Enterprises from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. StockNews.com lowered Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, March 3rd.

Hovnanian Enterprises Stock Performance

HOV traded down $3.35 during trading on Thursday, reaching $145.20. The company’s stock had a trading volume of 50,189 shares, compared to its average volume of 78,052. Hovnanian Enterprises has a 52-week low of $65.22 and a 52-week high of $184.42. The company’s fifty day moving average price is $151.42 and its 200-day moving average price is $143.28. The company has a market capitalization of $885.72 million, a price-to-earnings ratio of 5.22 and a beta of 2.62. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.86 and a current ratio of 4.07.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.75 earnings per share for the quarter. Hovnanian Enterprises had a return on equity of 58.22% and a net margin of 7.45%. The company had revenue of $594.20 million for the quarter.

Insider Buying and Selling at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 1,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $157.82, for a total transaction of $157,820.00. Following the completion of the sale, the chief executive officer now directly owns 51,475 shares in the company, valued at approximately $8,123,784.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 17.67% of the stock is currently owned by insiders.

Institutional Trading of Hovnanian Enterprises

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its position in Hovnanian Enterprises by 588.9% during the 4th quarter. SG Americas Securities LLC now owns 14,873 shares of the construction company’s stock worth $2,315,000 after purchasing an additional 12,714 shares during the period. UBS Group AG grew its stake in shares of Hovnanian Enterprises by 8.4% during the third quarter. UBS Group AG now owns 45,432 shares of the construction company’s stock valued at $4,619,000 after acquiring an additional 3,528 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Hovnanian Enterprises during the 4th quarter worth approximately $1,460,000. Trexquant Investment LP acquired a new position in Hovnanian Enterprises during the 3rd quarter worth $447,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Hovnanian Enterprises during the third quarter worth about $1,614,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

About Hovnanian Enterprises

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.