Hovnanian Enterprises (NYSE:HOV) Stock Passes Above 200 Day Moving Average – What’s Next?

Shares of Hovnanian Enterprises Inc (NYSE:HOV) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $124.36 and traded as high as $126.84. Hovnanian Enterprises shares last traded at $123.1150, with a volume of 110,533 shares.

Analyst Upgrades and Downgrades

A number of research firms have commented on HOV. Wall Street Zen cut shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Zacks Research upgraded shares of Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hovnanian Enterprises in a report on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $120.00.

Hovnanian Enterprises Trading Down 1.9%

The stock has a market capitalization of $732.53 million, a P/E ratio of 16.44 and a beta of 2.20. The company has a current ratio of 1.58, a quick ratio of 0.40 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $112.02 and a two-hundred day moving average price of $124.43.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings results on Thursday, December 4th. The construction company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($1.14). The company had revenue of $817.90 million during the quarter, compared to the consensus estimate of $814.50 million. Hovnanian Enterprises had a return on equity of 15.33% and a net margin of 2.14%.The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $13.84 EPS.

Institutional Investors Weigh In On Hovnanian Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in HOV. Allspring Global Investments Holdings LLC lifted its stake in Hovnanian Enterprises by 8.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,453 shares of the construction company’s stock valued at $338,000 after purchasing an additional 263 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Hovnanian Enterprises by 30.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,499 shares of the construction company’s stock valued at $244,000 after acquiring an additional 582 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Hovnanian Enterprises by 1.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,283 shares of the construction company’s stock valued at $1,193,000 after acquiring an additional 144 shares in the last quarter. Penn Capital Management Company LLC bought a new position in Hovnanian Enterprises during the 3rd quarter worth $683,000. Finally, Mariner LLC grew its position in shares of Hovnanian Enterprises by 47.2% in the 3rd quarter. Mariner LLC now owns 6,998 shares of the construction company’s stock valued at $899,000 after buying an additional 2,243 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.