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Hovnanian Enterprises (NYSE:HOV) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Monday. The firm currently has a $4.40 price objective on the stock. Zacks‘s price target would indicate a potential upside of 3.04% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Sidoti downgraded shares of Hovnanian Enterprises from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 29th. 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. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.61.

Hovnanian Enterprises (NYSE:HOV) traded down 0.47% during mid-day trading on Monday, hitting $4.25. 1,685,089 shares of the company’s stock traded hands. Hovnanian Enterprises has a 52 week low of $3.75 and a 52 week high of $6.80. The stock’s 50-day moving average is $4.26 and its 200-day moving average is $4.74. The company has a market cap of $619.6 million and a price-to-earnings ratio of 71.17.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Wednesday, June 4th. The company reported ($0.05) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.01 earnings per share. Hovnanian Enterprises’s revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that Hovnanian Enterprises will post $0.09 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.

To view Zacks’ full report, visit Zacks’ official website.

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