Hovnanian Enterprises (NYSE:HOV) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.
Several other equities analysts have also recently weighed in on the company. TheStreet cut Hovnanian Enterprises from a “c-” rating to a “d” rating in a research report on Thursday, September 7th. MKM Partners reissued a “neutral” rating on shares of Hovnanian Enterprises in a research report on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company’s stock. Hovnanian Enterprises presently has a consensus rating of “Hold” and an average target price of $1.53.
Hovnanian Enterprises (NYSE:HOV) traded up $0.24 during midday trading on Friday, hitting $3.35. The company had a trading volume of 7,620,000 shares, compared to its average volume of 2,360,000. Hovnanian Enterprises has a fifty-two week low of $1.66 and a fifty-two week high of $3.36. The company has a quick ratio of 0.24, a current ratio of 0.82 and a debt-to-equity ratio of -0.30. The firm has a market cap of $449.88, a PE ratio of -1.49 and a beta of 1.98.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in Hovnanian Enterprises by 10.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 627,804 shares of the construction company’s stock valued at $1,425,000 after acquiring an additional 59,100 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Hovnanian Enterprises by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 484,512 shares of the construction company’s stock valued at $1,357,000 after acquiring an additional 2,432 shares in the last quarter. Federated Investors Inc. PA raised its holdings in Hovnanian Enterprises by 7,889.2% in the 2nd quarter. Federated Investors Inc. PA now owns 274,031 shares of the construction company’s stock valued at $767,000 after acquiring an additional 270,601 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Hovnanian Enterprises by 13.3% in the 2nd quarter. Wells Fargo & Company MN now owns 143,343 shares of the construction company’s stock valued at $402,000 after acquiring an additional 16,805 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Hovnanian Enterprises by 75.4% in the 2nd quarter. Alliancebernstein L.P. now owns 734,378 shares of the construction company’s stock valued at $2,056,000 after acquiring an additional 315,780 shares in the last quarter. 32.14% of the stock is owned by institutional investors and hedge funds.
WARNING: “Hovnanian Enterprises (HOV) Upgraded at ValuEngine” was posted by American Banking News and is the property of of American Banking News. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/01/01/hovnanian-enterprises-hov-upgraded-at-valuengine.html.
About Hovnanian Enterprises
Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Hovnanian Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hovnanian Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.