Hovnanian Enterprises (HOV) Trading 5.9% Higher
Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price traded up 5.9% during trading on Wednesday . The stock traded as high as $2.17 and last traded at $2.14. 1,576,684 shares were traded during trading, a decline of 38% from the average session volume of 2,544,661 shares. The stock had previously closed at $2.02.
Several equities analysts have commented on the company. ValuEngine raised Hovnanian Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. MKM Partners lowered Hovnanian Enterprises from a “neutral” rating to a “sell” rating and set a $1.75 price objective for the company. in a research report on Friday, December 22nd. Three investment analysts have rated the stock with a sell rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $1.53.
The company has a debt-to-equity ratio of -0.28, a quick ratio of 0.33 and a current ratio of 0.82. The firm has a market cap of $315.85, a PE ratio of -0.94 and a beta of 1.75.
Several large investors have recently modified their holdings of HOV. BlueCrest Capital Management Ltd bought a new position in shares of Hovnanian Enterprises during the fourth quarter valued at $101,000. Stifel Financial Corp increased its holdings in shares of Hovnanian Enterprises by 5.5% during the second quarter. Stifel Financial Corp now owns 38,050 shares of the construction company’s stock valued at $107,000 after acquiring an additional 1,975 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Hovnanian Enterprises during the fourth quarter valued at $136,000. Jane Street Group LLC bought a new position in shares of Hovnanian Enterprises during the fourth quarter valued at $150,000. Finally, First Trust Advisors LP bought a new position in shares of Hovnanian Enterprises during the third quarter valued at $191,000. Hedge funds and other institutional investors own 31.80% of the company’s stock.
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About Hovnanian Enterprises
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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