Hovnanian Enterprises (HOV) Lifted to “Buy” at ValuEngine
ValuEngine upgraded shares of Hovnanian Enterprises (NYSE:HOV) from a hold rating to a buy rating in a report released on Sunday morning.
Several other equities analysts have also recently issued reports on HOV. MKM Partners reiterated a neutral rating on shares of Hovnanian Enterprises in a research note on Tuesday, September 5th. TheStreet cut shares of Hovnanian Enterprises from a c- rating to a d rating in a research note on Thursday, September 7th. Three analysts have rated the stock with a sell rating and one has issued a buy rating to the company. The company has an average rating of Hold and an average target price of $1.53.
Hovnanian Enterprises (NYSE:HOV) traded down $0.03 on Friday, hitting $3.29. 3,177,300 shares of the company traded hands, compared to its average volume of 3,341,050. The company has a debt-to-equity ratio of -0.30, a quick ratio of 0.24 and a current ratio of 0.82. Hovnanian Enterprises has a 1 year low of $1.66 and a 1 year high of $3.41. The firm has a market cap of $445.42, a PE ratio of -1.46 and a beta of 2.00.
Hovnanian Enterprises (NYSE:HOV) last posted its earnings results on Thursday, December 21st. The construction company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.06. Hovnanian Enterprises had a negative net margin of 13.55% and a negative return on equity of 1.48%. The firm had revenue of $721.70 million during the quarter, compared to analysts’ expectations of $603.90 million. During the same period in the previous year, the business posted $0.16 EPS. The business’s revenue was down 10.4% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Blackstone Group L.P. purchased a new stake in Hovnanian Enterprises in the 3rd quarter worth $6,015,000. Northern Trust Corp grew its holdings in shares of Hovnanian Enterprises by 3.4% during the second quarter. Northern Trust Corp now owns 1,428,606 shares of the construction company’s stock worth $4,000,000 after buying an additional 47,262 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Hovnanian Enterprises by 92.2% during the second quarter. TIAA CREF Investment Management LLC now owns 1,087,768 shares of the construction company’s stock worth $3,046,000 after buying an additional 521,737 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Hovnanian Enterprises during the third quarter worth $323,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Hovnanian Enterprises by 75.4% during the second quarter. Alliancebernstein L.P. now owns 734,378 shares of the construction company’s stock worth $2,056,000 after buying an additional 315,780 shares in the last quarter. 32.14% of the stock is owned by institutional investors.
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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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