Hovnanian Enterprises (NYSE:HOV) Receives Neutral Rating from Wedbush

Hovnanian Enterprises (NYSE:HOV)‘s stock had its “neutral” rating reiterated by investment analysts at Wedbush in a report released on Wednesday,Benzinga reports. They presently have a $120.00 price objective on the construction company’s stock. Wedbush’s target price indicates a potential upside of 20.75% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th. Wall Street Zen downgraded shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st.

Hovnanian Enterprises Trading Up 1.7%

Shares of HOV stock opened at $99.38 on Wednesday. Hovnanian Enterprises has a fifty-two week low of $81.15 and a fifty-two week high of $240.34. The stock’s fifty day moving average price is $96.97 and its two-hundred day moving average price is $119.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The company has a market cap of $588.83 million, a PE ratio of 3.09 and a beta of 2.15.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.43 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.02). Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The business had revenue of $686.47 million for the quarter, compared to the consensus estimate of $733.20 million. The business’s quarterly revenue was down 3.1% on a year-over-year basis.

Institutional Investors Weigh In On Hovnanian Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of HOV. Principal Financial Group Inc. raised its position in Hovnanian Enterprises by 7.2% in the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company’s stock valued at $319,000 after purchasing an additional 161 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Hovnanian Enterprises by 64.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,905 shares of the construction company’s stock valued at $1,325,000 after buying an additional 3,891 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Hovnanian Enterprises by 147.7% in the 4th quarter. BNP Paribas Financial Markets now owns 2,598 shares of the construction company’s stock valued at $348,000 after buying an additional 1,549 shares during the last quarter. Cerity Partners LLC boosted its position in Hovnanian Enterprises by 60.9% during the 4th quarter. Cerity Partners LLC now owns 4,223 shares of the construction company’s stock worth $572,000 after buying an additional 1,599 shares during the period. Finally, Swiss National Bank grew its holdings in Hovnanian Enterprises by 5.3% during the 4th quarter. Swiss National Bank now owns 9,900 shares of the construction company’s stock worth $1,325,000 after acquiring an additional 500 shares during the last quarter. 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.