Hovnanian Enterprises (NYSE:HOV) Shares Cross Above 200 Day Moving Average – Time to Sell?

Hovnanian Enterprises Inc (NYSE:HOV)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $125.03 and traded as high as $133.16. Hovnanian Enterprises shares last traded at $131.8360, with a volume of 105,025 shares changing hands.

Analyst Ratings Changes

Several research firms recently commented on HOV. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hovnanian Enterprises in a research report on Thursday, January 22nd. Wall Street Zen downgraded Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Finally, Zacks Research upgraded Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $120.00.

Hovnanian Enterprises Stock Performance

The company has a market capitalization of $784.82 million, a price-to-earnings ratio of 17.60 and a beta of 2.31. The stock’s 50 day moving average price is $111.08 and its 200 day moving average price is $125.03. The company has a current ratio of 1.58, a quick ratio of 0.40 and a debt-to-equity ratio of 0.04.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Thursday, December 4th. The construction company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($1.14). Hovnanian Enterprises had a return on equity of 15.33% and a net margin of 2.14%.The company had revenue of $817.90 million for the quarter, compared to the consensus estimate of $814.50 million. During the same quarter in the previous year, the company posted $13.84 EPS. The business’s revenue was down 16.5% on a year-over-year basis.

Institutional Investors Weigh In On Hovnanian Enterprises

Several large investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new position in Hovnanian Enterprises during the third quarter worth $35,000. Osaic Holdings Inc. grew its position in shares of Hovnanian Enterprises by 72.1% in the 2nd quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock valued at $45,000 after acquiring an additional 181 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Hovnanian Enterprises by 614.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock worth $58,000 after purchasing an additional 479 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Hovnanian Enterprises during the 4th quarter worth about $117,000. Finally, AlphaQuest LLC raised its holdings in shares of Hovnanian Enterprises by 10,727.3% in the 2nd quarter. AlphaQuest LLC now owns 1,191 shares of the construction company’s stock valued at $125,000 after purchasing an additional 1,180 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.