Hovnanian Enterprises (NYSE:HOV) Trading Up 4.9%

Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) were up 4.9% during mid-day trading on Thursday . The company traded as high as $136.99 and last traded at $134.76. Approximately 15,910 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 81,753 shares. The stock had previously closed at $128.50.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HOV shares. Zelman & Associates reiterated an “underperform” rating on shares of Hovnanian Enterprises in a research report on Friday, April 12th. TheStreet upgraded shares of Hovnanian Enterprises from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. Finally, StockNews.com lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, March 3rd.

Hovnanian Enterprises Trading Up 1.0 %

The company’s 50 day moving average price is $148.65 and its 200 day moving average price is $129.67. The company has a market cap of $794.77 million, a price-to-earnings ratio of 4.69 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 (NYSE:HOV) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.75 EPS for the quarter. Hovnanian Enterprises had a net margin of 7.45% and a return on equity of 58.22%. The company had revenue of $594.20 million for the quarter.

Insider Activity at Hovnanian Enterprises

In related news, CEO Ara K. Hovnanian sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $157.82, for a total value of $157,820.00. Following the transaction, the chief executive officer now directly owns 51,475 shares in the company, valued at approximately $8,123,784.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wyoming acquired a new stake in Hovnanian Enterprises in the 2nd quarter worth $42,000. CWM LLC grew its position in Hovnanian Enterprises by 3,541.7% in the 1st quarter. CWM LLC now owns 437 shares of the construction company’s stock worth $69,000 after purchasing an additional 425 shares during the last quarter. AJOVista LLC acquired a new stake in Hovnanian Enterprises in the 4th quarter worth $97,000. DekaBank Deutsche Girozentrale acquired a new stake in Hovnanian Enterprises in the 3rd quarter worth $66,000. Finally, Point72 Asset Management L.P. acquired a new stake in Hovnanian Enterprises in the 4th quarter worth $29,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.