Hovnanian Enterprises (NYSE:HOV) Shares Gap Down – What’s Next?

Hovnanian Enterprises, Inc. (NYSE:HOV) gapped down before the market opened on Wednesday . The stock had previously closed at $132.56, but opened at $125.87. Hovnanian Enterprises shares last traded at $126.55, with a volume of 7,774 shares trading hands.

Wall Street Analysts Forecast Growth

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

Hovnanian Enterprises Trading Down 3.6 %

The company has a market cap of $774.77 million, a price-to-earnings ratio of 3.99 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 has a 50-day moving average price of $139.34 and a 200 day moving average price of $174.96.

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

Institutional Trading of Hovnanian Enterprises

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its stake in Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after acquiring an additional 59 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Hovnanian Enterprises by 0.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company’s stock worth $1,186,000 after buying an additional 81 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Hovnanian Enterprises by 1.0% in the 4th quarter. Rhumbline Advisers now owns 8,850 shares of the construction company’s stock worth $1,184,000 after buying an additional 85 shares in the last quarter. Koss Olinger Consulting LLC raised its stake in shares of Hovnanian Enterprises by 3.5% in the 3rd quarter. Koss Olinger Consulting LLC now owns 3,404 shares of the construction company’s stock worth $696,000 after buying an additional 115 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Hovnanian Enterprises by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company’s stock worth $274,000 after buying an additional 145 shares in 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.