Hovnanian Enterprises (NYSE:HOV) Rating Increased to Neutral at Zelman & Associates

Zelman & Associates upgraded shares of Hovnanian Enterprises (NYSE:HOV) from an underperform rating to a neutral rating in a report released on Thursday morning, Marketbeat reports. The firm currently has $155.00 price target on the construction company’s stock.

HOV has been the topic of a number of other reports. TheStreet upgraded shares of Hovnanian Enterprises from a c+ rating to a b- rating in a report on Friday, February 16th. 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 Price Performance

NYSE:HOV opened at $139.52 on Thursday. The stock’s 50-day simple moving average is $151.66 and its 200 day simple moving average is $144.12. Hovnanian Enterprises has a 52-week low of $65.22 and a 52-week high of $184.42. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.86 and a current ratio of 4.07. The company has a market cap of $851.07 million, a P/E ratio of 4.65 and a beta of 2.62.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.75 earnings per share for the quarter. The firm had revenue of $594.20 million for the quarter. Hovnanian Enterprises had a return on equity of 57.78% and a net margin of 8.02%. As a group, sell-side analysts forecast that Hovnanian Enterprises will post 27 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ara K. Hovnanian sold 1,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $157.82, for a total value of $157,820.00. Following the sale, the chief executive officer now owns 51,475 shares in the company, valued at approximately $8,123,784.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 17.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in Hovnanian Enterprises by 2.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,917 shares of the construction company’s stock worth $1,243,000 after acquiring an additional 188 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in Hovnanian Enterprises by 309.9% during the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after purchasing an additional 626 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Hovnanian Enterprises by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock worth $44,011,000 after purchasing an additional 16,012 shares during the last quarter. Foundry Partners LLC acquired a new position in Hovnanian Enterprises in the 1st quarter valued at $4,259,000. Finally, Entropy Technologies LP bought a new position in Hovnanian Enterprises during the 1st quarter worth $205,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

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.