Zelman & Associates Reiterates Underperform Rating for Hovnanian Enterprises (NYSE:HOV)

Hovnanian Enterprises (NYSE:HOV)‘s stock had its “underperform” rating reaffirmed by investment analysts at Zelman & Associates in a note issued to investors on Wednesday,Benzinga reports.

Separately, Wedbush restated a “neutral” rating and set a $155.00 price target on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

Hovnanian Enterprises Stock Performance

Shares of HOV stock opened at $133.65 on Wednesday. The stock has a market capitalization of $809.25 million, a P/E ratio of 4.16 and a beta of 2.71. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $137.27 and its 200 day moving average is $174.37. Hovnanian Enterprises has a 12 month low of $115.90 and a 12 month high of $240.34.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings results on Thursday, December 5th. The construction company reported $12.79 EPS for the quarter. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%.

Institutional Trading of Hovnanian Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in Hovnanian Enterprises in the 4th quarter worth approximately $25,000. Allspring Global Investments Holdings LLC purchased a new stake in Hovnanian Enterprises in the 3rd quarter worth approximately $33,000. FMR LLC lifted its stake in Hovnanian Enterprises by 20.6% in the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after purchasing an additional 59 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Hovnanian Enterprises during the 4th quarter valued at $120,000. Finally, CWM LLC raised its position in shares of Hovnanian Enterprises by 89.6% during the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock valued at $153,000 after buying an additional 354 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

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.