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Hovnanian Enterprises (NYSE:HOV)’s share price hit a new 52-week low during mid-day trading on Tuesday , American Banking reports. The stock traded as low as $4.35 and last traded at $4.46, with a volume of 928,448 shares changing hands. The stock had previously closed at $4.40.

A number of research firms have recently commented on HOV. Analysts at JMP Securities cut their price target on shares of Hovnanian Enterprises from $4.50 to $4.00 in a research note on Thursday, June 5th. Separately, analysts at TheStreet downgraded shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research note on Thursday, March 27th. Finally, analysts at Zacks downgraded shares of Hovnanian Enterprises from a “neutral” rating to an “underperform” rating in a research note on Wednesday, March 19th. They now have a $4.70 price target on the stock. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Hovnanian Enterprises presently has an average rating of “Sell” and an average target price of $4.66.

The stock’s 50-day moving average is $4.53 and its 200-day moving average is $5.21. The company has a market cap of $644.4 million and a P/E ratio of 73.33.

Hovnanian Enterprises (NYSE:HOV) last released its earnings data on Wednesday, June 4th. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.03 by $0.08. The company had revenue of $449.90 million for the quarter, compared to the consensus estimate of $476.72 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts predict that Hovnanian Enterprises will post $0.11 earnings per share for the current fiscal year.

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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