Hovnanian Enterprises Downgraded to “Underperform” at FBN Securities (HOV)
Hovnanian Enterprises (NYSE:HOV) was downgraded by FBN Securities to an “underperform” rating in a research note issued on Friday, American Banking News reports.
Shares of Hovnanian Enterprises (NYSE:HOV) traded up 0.76% during mid-day trading on Friday, hitting $5.29. 3,091,339 shares of the company’s stock traded hands. Hovnanian Enterprises has a 52-week low of $3.27 and a 52-week high of $7.43. The stock has a 50-day moving average of $5.24 and a 200-day moving average of $5.6. The company’s market cap is $736.1 million.
Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings results on Monday, September 9th. The company reported $0.06 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.07 by $0.01. The company had revenue of $478.40 million for the quarter, compared to the consensus estimate of $504.70 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, analysts predict that Hovnanian Enterprises will post $0.16 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on HOV. Analysts at UBS AG upgraded shares of Hovnanian Enterprises (NYSE:HOV) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, August 14th. They noted that the move was a valuation call. Separately, analysts at Zacks upgraded shares of Hovnanian Enterprises (NYSE:HOV) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, August 6th. They now have a $6.70 price target on the stock. Finally, analysts at Thomson Reuters/Verus upgraded shares of Hovnanian Enterprises (NYSE:HOV) from a “hold” rating to a “buy” rating in a research note to investors on Monday, July 29th.
Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $5.89.
Hovnanian Enterprises, Inc (NYSE:HOV) designs, constructs, markets, and sells single-family detached homes, attached townhomes and condominiums, mid-rise condominiums, urban infill and active adult homes in planned residential developments.
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