Hovnanian Enterprises Inc (NYSE:HOV – Get Free Report) Director J Larry Sorsby sold 1,032 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $142.57, for a total transaction of $147,132.24. Following the completion of the transaction, the director owned 187,416 shares of the company’s stock, valued at $26,719,899.12. This represents a 0.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Hovnanian Enterprises Price Performance
Hovnanian Enterprises stock traded up $5.67 during trading hours on Friday, hitting $147.56. 212,848 shares of the company traded hands, compared to its average volume of 112,652. Hovnanian Enterprises Inc has a 1-year low of $91.52 and a 1-year high of $162.05. The firm has a market cap of $864.67 million, a P/E ratio of 40.54 and a beta of 1.84. The firm’s 50-day simple moving average is $113.71 and its two-hundred day simple moving average is $113.26. The company has a quick ratio of 0.40, a current ratio of 1.50 and a debt-to-equity ratio of 0.05.
Hovnanian Enterprises (NYSE:HOV – Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The construction company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.04) by $1.58. The company had revenue of $667.65 million during the quarter, compared to analyst estimates of $626.40 million. Hovnanian Enterprises had a net margin of 1.25% and a return on equity of 11.23%.
Institutional Trading of Hovnanian Enterprises
Analyst Ratings Changes
Several brokerages have recently issued reports on HOV. Wall Street Zen upgraded Hovnanian Enterprises from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Citizens Jmp started coverage on Hovnanian Enterprises in a report on Thursday, April 9th. They issued a “market underperform” rating and a $74.00 price objective for the company. Finally, Weiss Ratings cut Hovnanian Enterprises from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $97.00.
Read Our Latest Research Report on HOV
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.
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