Hovnanian Enterprises (NYSE:HOV) Sees Unusually-High Trading Volume – Still a Buy?

Hovnanian Enterprises Inc (NYSE:HOV) saw strong trading volume on Friday . 113,821 shares changed hands during trading, an increase of 15% from the previous session’s volume of 99,038 shares.The stock last traded at $104.3860 and had previously closed at $107.43.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wall Street Zen raised Hovnanian Enterprises from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Hovnanian Enterprises in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Hovnanian Enterprises has a consensus rating of “Hold” and a consensus target price of $120.00.

Hovnanian Enterprises Stock Performance

The company has a current ratio of 1.50, a quick ratio of 0.43 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $620.17 million, a PE ratio of 15.96 and a beta of 2.28. The firm’s fifty day moving average price is $119.32 and its 200 day moving average price is $121.20.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Wednesday, February 25th. The construction company reported $2.62 earnings per share for the quarter, topping the consensus estimate of ($0.98) by $3.60. The company had revenue of $631.95 million for the quarter, compared to analyst estimates of $628.50 million. Hovnanian Enterprises had a return on equity of 14.14% and a net margin of 1.92%.

Institutional Investors Weigh In On Hovnanian Enterprises

Several institutional investors and hedge funds have recently modified their holdings of HOV. Forager Capital Management LLC increased its position in Hovnanian Enterprises by 18.2% during the second quarter. Forager Capital Management LLC now owns 239,500 shares of the construction company’s stock worth $25,040,000 after buying an additional 36,828 shares during the last quarter. State Street Corp boosted its stake in shares of Hovnanian Enterprises by 8.6% during the 4th quarter. State Street Corp now owns 228,613 shares of the construction company’s stock worth $22,299,000 after acquiring an additional 18,086 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Hovnanian Enterprises by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 175,186 shares of the construction company’s stock worth $17,089,000 after acquiring an additional 3,514 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of Hovnanian Enterprises by 7.6% during the 4th quarter. GW&K Investment Management LLC now owns 121,488 shares of the construction company’s stock valued at $11,850,000 after acquiring an additional 8,571 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Hovnanian Enterprises by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 111,600 shares of the construction company’s stock valued at $10,888,000 after acquiring an additional 1,057 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

About Hovnanian Enterprises

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.