Hovnanian Enterprises (NYSE:HOV) Share Price Crosses Above Two Hundred Day Moving Average of $132.86

Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $132.86 and traded as high as $152.47. Hovnanian Enterprises shares last traded at $151.75, with a volume of 34,169 shares changing hands.

Analyst Ratings Changes

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

Hovnanian Enterprises Trading Up 1.2 %

The firm’s 50 day moving average is $146.86 and its 200 day moving average is $132.86. The company has a debt-to-equity ratio of 2.19, a current ratio of 4.07 and a quick ratio of 0.86. The company has a market capitalization of $925.68 million, a PE ratio of 5.46 and a beta of 2.61.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.75 earnings per share (EPS) for the quarter. The business had revenue of $594.20 million for the quarter. Hovnanian Enterprises had a net margin of 7.45% and a return on equity of 58.22%.

Insider Activity at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 1,000 shares of Hovnanian Enterprises stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $157.82, for a total transaction of $157,820.00. Following the sale, the chief executive officer now owns 51,475 shares of the company’s stock, valued at approximately $8,123,784.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hovnanian Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its stake in shares of Hovnanian Enterprises by 27.4% in the 4th quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock worth $123,000 after buying an additional 170 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Hovnanian Enterprises by 11.8% in the first quarter. Principal Financial Group Inc. now owns 2,971 shares of the construction company’s stock worth $466,000 after purchasing an additional 313 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Hovnanian Enterprises by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 35,316 shares of the construction company’s stock valued at $3,590,000 after purchasing an additional 351 shares in the last quarter. CWM LLC boosted its position in shares of Hovnanian Enterprises by 3,541.7% during the first quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after buying an additional 425 shares during the last quarter. Finally, AJOVista LLC bought a new stake in Hovnanian Enterprises in the 4th quarter worth about $97,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

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.