Hovnanian Enterprises (HOV) Earns Neutral Rating from Analysts at Buckingham Research

Buckingham Research assumed coverage on shares of Hovnanian Enterprises (NYSE:HOV) in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage issued a neutral rating on the construction company’s stock.

Other research analysts have also issued reports about the company. JMP Securities upgraded Hovnanian Enterprises from an underperform rating to a market perform rating and set a $1.30 price objective for the company in a research note on Tuesday, October 9th. ValuEngine upgraded Hovnanian Enterprises from a strong sell rating to a sell rating in a research note on Friday, December 7th.

Shares of HOV stock opened at $0.81 on Friday. Hovnanian Enterprises has a one year low of $0.64 and a one year high of $3.03.



Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, December 6th. The construction company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.10. Hovnanian Enterprises had a negative return on equity of 0.73% and a net margin of 0.23%. The firm had revenue of $614.81 million during the quarter, compared to analyst estimates of $638.80 million. During the same period in the prior year, the company posted $0.08 earnings per share. The business’s revenue for the quarter was down 14.8% compared to the same quarter last year.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc raised its stake in Hovnanian Enterprises by 3.8% during the third quarter. Vanguard Group Inc now owns 6,508,198 shares of the construction company’s stock worth $10,414,000 after acquiring an additional 236,087 shares in the last quarter. Vanguard Group Inc. raised its stake in Hovnanian Enterprises by 3.8% during the third quarter. Vanguard Group Inc. now owns 6,508,198 shares of the construction company’s stock worth $10,414,000 after acquiring an additional 236,087 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Hovnanian Enterprises during the third quarter worth $527,000. JPMorgan Chase & Co. raised its stake in Hovnanian Enterprises by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 5,895,184 shares of the construction company’s stock worth $9,432,000 after acquiring an additional 50,138 shares in the last quarter. Finally, Bridgeway Capital Management Inc. raised its stake in Hovnanian Enterprises by 65.1% during the third quarter. Bridgeway Capital Management Inc. now owns 436,900 shares of the construction company’s stock worth $699,000 after acquiring an additional 172,200 shares in the last quarter. Hedge funds and other institutional investors own 35.98% of the company’s stock.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company markets its build homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 130 communities in 24 markets.

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