Hovnanian Enterprises (NYSE:HOV) Stock Rating Reaffirmed by Zelman & Associates

Hovnanian Enterprises (NYSE:HOV)‘s stock had its “underperform” rating reissued by analysts at Zelman & Associates in a report released on Friday, Benzinga reports.

Several other equities analysts have also recently weighed in on HOV. StockNews.com cut shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, March 3rd. TheStreet raised shares of Hovnanian Enterprises from a “c+” rating to a “b-” rating in a report on Friday, February 16th.

Hovnanian Enterprises Stock Down 3.0 %

Shares of NYSE:HOV opened at $141.64 on Friday. The company has a fifty day moving average of $151.36 and a 200-day moving average of $128.84. The company has a market capitalization of $864.00 million, a PE ratio of 5.09 and a beta of 2.61. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.86 and a current ratio of 4.07. Hovnanian Enterprises has a 52-week low of $63.39 and a 52-week high of $183.60.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.75 earnings per share for the quarter. The business had revenue of $594.20 million during the quarter. Hovnanian Enterprises had a return on equity of 58.22% and a net margin of 7.45%.

Insider Buying and Selling at Hovnanian Enterprises

In related news, CEO Ara K. Hovnanian sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $157.82, for a total transaction of $157,820.00. Following the sale, the chief executive officer now owns 51,475 shares of the company’s stock, valued at $8,123,784.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Hovnanian Enterprises by 9.9% during the second quarter. BlackRock Inc. now owns 331,716 shares of the construction company’s stock valued at $32,910,000 after purchasing an additional 29,938 shares during the last quarter. Vanguard Group Inc. increased its position in Hovnanian Enterprises by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 268,482 shares of the construction company’s stock valued at $9,585,000 after purchasing an additional 20,089 shares during the period. Renaissance Technologies LLC grew its position in shares of Hovnanian Enterprises by 15.3% in the 2nd quarter. Renaissance Technologies LLC now owns 261,715 shares of the construction company’s stock worth $11,199,000 after buying an additional 34,810 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Hovnanian Enterprises by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 181,338 shares of the construction company’s stock worth $28,221,000 after buying an additional 1,433 shares during the last quarter. Finally, State Street Corp raised its position in shares of Hovnanian Enterprises by 4.1% in the 2nd quarter. State Street Corp now owns 104,317 shares of the construction company’s stock valued at $4,464,000 after purchasing an additional 4,143 shares during the last quarter. 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.