Hovnanian Enterprises Price Target Lowered to $4.50 at Compass Point (HOV)
Equities research analysts at Compass Point cut their price objective on shares of Hovnanian Enterprises (NYSE:HOV) from $5.00 to $4.50 in a research note issued on Friday. The firm currently has a “neutral” rating on the stock. Compass Point’s target price indicates a potential upside of 5.88% from the stock’s previous close.
Shares of Hovnanian Enterprises (NYSE:HOV) opened at 4.25 on Friday. Hovnanian Enterprises has a 52 week low of $3.75 and a 52 week high of $6.80. The stock has a 50-day moving average of $4.17 and a 200-day moving average of $4.6. The company has a market cap of $619.6 million and a price-to-earnings ratio of 70.83.
Hovnanian Enterprises (NYSE:HOV) last announced its earnings results on Thursday, September 4th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $551.00 million for the quarter, compared to the consensus estimate of $559.47 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis.
HOV has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Hovnanian Enterprises from an “underperform” rating to a “neutral” rating in a research note on Monday, August 25th. They now have a $4.40 price target on 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. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $4.53.
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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