Hovnanian Enterprises (NYSE:HOV) Share Price Passes Above 200 Day Moving Average – What’s Next?

Hovnanian Enterprises Inc (NYSE:HOV) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $124.36 and traded as high as $126.84. Hovnanian Enterprises shares last traded at $123.1150, with a volume of 110,533 shares trading hands.

Analyst Upgrades and Downgrades

HOV has been the topic of several research analyst reports. Wall Street Zen lowered shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Zacks Research raised Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hovnanian Enterprises in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $120.00.

Hovnanian Enterprises Price Performance

The company has a market cap of $732.90 million, a price-to-earnings ratio of 16.44 and a beta of 2.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.40 and a current ratio of 1.58. The company’s 50 day moving average price is $112.02 and its 200 day moving average price is $124.36.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings results on Thursday, December 4th. The construction company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($1.14). The firm had revenue of $817.90 million during the quarter, compared to analyst estimates of $814.50 million. Hovnanian Enterprises had a net margin of 2.14% and a return on equity of 15.33%. Hovnanian Enterprises’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the firm earned $13.84 earnings per share.

Hedge Funds Weigh In On Hovnanian Enterprises

Several institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas increased its stake in Hovnanian Enterprises by 292.2% in the third quarter. Teacher Retirement System of Texas now owns 59,080 shares of the construction company’s stock valued at $7,591,000 after purchasing an additional 44,017 shares in the last quarter. Forager Capital Management LLC raised its position in shares of Hovnanian Enterprises by 18.2% during the second quarter. Forager Capital Management LLC now owns 239,500 shares of the construction company’s stock worth $25,040,000 after purchasing an additional 36,828 shares during the period. Pacer Advisors Inc. bought a new position in shares of Hovnanian Enterprises during the 3rd quarter valued at about $4,460,000. Two Sigma Investments LP boosted its holdings in shares of Hovnanian Enterprises by 46.2% in the third quarter. Two Sigma Investments LP now owns 47,574 shares of the construction company’s stock valued at $6,113,000 after buying an additional 15,041 shares during the period. Finally, First Trust Advisors LP bought a new position in Hovnanian Enterprises during the 3rd quarter worth about $1,825,000. Institutional investors own 65.40% of the company’s stock.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.