Hovnanian Enterprises (NYSE:HOV) Announces Quarterly Earnings Results

Hovnanian Enterprises (NYSE:HOV) released its quarterly earnings data on Monday. The construction company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $3.60, Zacks reports. Hovnanian Enterprises had a return on equity of 15.33% and a net margin of 2.14%.

Hovnanian Enterprises Stock Performance

Shares of HOV stock traded up $3.60 during mid-day trading on Wednesday, reaching $126.49. The stock had a trading volume of 127,257 shares, compared to its average volume of 101,155. Hovnanian Enterprises has a one year low of $81.15 and a one year high of $162.05. The firm has a market cap of $752.62 million, a PE ratio of 16.89 and a beta of 2.31. The firm’s 50 day simple moving average is $115.32 and its 200 day simple moving average is $125.08. The company has a quick ratio of 0.40, a current ratio of 1.58 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in shares of Hovnanian Enterprises by 8.6% during the 4th quarter. State Street Corp now owns 228,613 shares of the construction company’s stock valued at $22,299,000 after acquiring an additional 18,086 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Hovnanian Enterprises by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 175,186 shares of the construction company’s stock valued at $17,089,000 after purchasing an additional 3,514 shares in the last quarter. GW&K Investment Management LLC grew its holdings in shares of Hovnanian Enterprises by 7.6% in the 4th quarter. GW&K Investment Management LLC now owns 121,488 shares of the construction company’s stock worth $11,850,000 after purchasing an additional 8,571 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Hovnanian Enterprises by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 111,600 shares of the construction company’s stock worth $10,888,000 after purchasing an additional 1,057 shares in the last quarter. Finally, Towle & Co. lifted its holdings in Hovnanian Enterprises by 51.2% during the 4th quarter. Towle & Co. now owns 99,402 shares of the construction company’s stock valued at $9,696,000 after purchasing an additional 33,681 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HOV. Weiss Ratings reissued a “hold (c)” rating on shares of Hovnanian Enterprises in a report on Thursday, January 22nd. Zacks Research raised Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Finally, Wall Street Zen cut Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $120.00.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.