Hovnanian Enterprises’ (HOV) “Underperform” Rating Reaffirmed at Zelman & Associates

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

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

Hovnanian Enterprises Price Performance

Shares of NYSE HOV traded down $4.92 during trading on Wednesday, reaching $127.65. The company had a trading volume of 32,855 shares, compared to its average volume of 67,808. Hovnanian Enterprises has a twelve month low of $115.90 and a twelve month high of $240.34. The stock has a market capitalization of $773.53 million, a PE ratio of 3.98 and a beta of 2.71. The stock has a 50-day moving average price of $139.34 and a two-hundred day moving average price of $174.96. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14.

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

Hedge Funds Weigh In On Hovnanian Enterprises

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Hovnanian Enterprises by 98.5% during the third quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company’s stock worth $6,023,000 after acquiring an additional 14,624 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Hovnanian Enterprises during the third quarter worth about $687,000. Charles Schwab Investment Management Inc. increased its stake in Hovnanian Enterprises by 92.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock worth $10,212,000 after acquiring an additional 23,990 shares during the last quarter. Truist Financial Corp acquired a new stake in Hovnanian Enterprises during the second quarter worth about $352,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Hovnanian Enterprises during the third quarter worth about $33,000. 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.