Hovnanian Enterprises (NYSE:HOV) Hits New 52-Week Low – Here’s Why

Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $94.75 and last traded at $95.57, with a volume of 39558 shares trading hands. The stock had previously closed at $106.53.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HOV. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th. StockNews.com downgraded shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday, March 18th. Finally, Wedbush restated a “neutral” rating and set a $155.00 price target on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

Hovnanian Enterprises Trading Up 10.0 %

The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14. The stock has a 50-day simple moving average of $116.03 and a 200 day simple moving average of $151.79. The company has a market cap of $614.88 million, a price-to-earnings ratio of 3.23 and a beta of 2.85.

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

Institutional Trading of Hovnanian Enterprises

Large investors have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in shares of Hovnanian Enterprises during the fourth quarter worth $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 period. KLP Kapitalforvaltning AS purchased a new position in shares of Hovnanian Enterprises during the 4th quarter valued at about $120,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Hovnanian Enterprises in the 3rd quarter valued at about $205,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Hovnanian Enterprises in the third quarter worth about $254,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

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.