Hovnanian Enterprises (NYSE:HOV) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Hovnanian Enterprises (NYSE:HOV) from a hold rating to a buy rating in a research note released on Monday.

Several other research analysts have also recently weighed in on HOV. Zelman & Associates upgraded shares of Hovnanian Enterprises from an underperform rating to a neutral rating and set a $155.00 price target on the stock in a report on Thursday, May 23rd. TheStreet upgraded Hovnanian Enterprises from a c+ rating to a b- rating in a research note on Friday, February 16th.

Hovnanian Enterprises Stock Performance

Shares of Hovnanian Enterprises stock opened at $153.34 on Monday. The company has a market cap of $935.37 million, a PE ratio of 5.11 and a beta of 2.45. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. Hovnanian Enterprises has a 52 week low of $65.22 and a 52 week high of $184.42. The business has a 50 day moving average price of $151.57 and a 200-day moving average price of $147.45.

Insider Buying and Selling at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were 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 owns 51,475 shares in the company, valued at approximately $8,123,784.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 1,000 shares of the 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 transaction, the chief executive officer now directly owns 51,475 shares of the company’s stock, valued at $8,123,784.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward A. Kangas sold 2,000 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $144.72, for a total value of $289,440.00. Following the completion of the sale, the director now directly owns 21,743 shares of the company’s stock, valued at $3,146,646.96. The disclosure for this sale can be found here. Corporate insiders own 17.67% of the company’s stock.

Institutional Investors Weigh In On Hovnanian Enterprises

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Hovnanian Enterprises by 6.1% in the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock valued at $44,011,000 after purchasing an additional 16,012 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Hovnanian Enterprises by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 181,338 shares of the construction company’s stock worth $28,221,000 after acquiring an additional 1,433 shares during the period. American Century Companies Inc. grew its position in shares of Hovnanian Enterprises by 25.5% in the third quarter. American Century Companies Inc. now owns 81,645 shares of the construction company’s stock valued at $8,300,000 after purchasing an additional 16,575 shares in the last quarter. Invesco Ltd. raised its stake in shares of Hovnanian Enterprises by 26.9% during the 3rd quarter. Invesco Ltd. now owns 79,625 shares of the construction company’s stock valued at $8,095,000 after purchasing an additional 16,866 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Hovnanian Enterprises by 3.7% during the 3rd quarter. Acadian Asset Management LLC now owns 70,392 shares of the construction company’s stock worth $7,154,000 after purchasing an additional 2,533 shares in the last quarter. 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.