Hovnanian Enterprises (NYSE:HOV) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Hovnanian Enterprises Inc (NYSE:HOV) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $116.53 and traded as high as $138.04. Hovnanian Enterprises shares last traded at $131.4020, with a volume of 159,373 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HOV shares. Weiss Ratings raised shares of Hovnanian Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Citizens Jmp began coverage on shares of Hovnanian Enterprises in a research report on Thursday, April 9th. They set a “market underperform” rating and a $74.00 price target on the stock. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $97.00.

Hovnanian Enterprises Trading Down 3.6%

The company has a current ratio of 1.50, a quick ratio of 0.40 and a debt-to-equity ratio of 0.05. The company has a market cap of $770.02 million, a price-to-earnings ratio of 36.10 and a beta of 1.81. The firm has a 50-day moving average price of $119.86 and a 200 day moving average price of $116.53.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings data on Thursday, May 21st. The construction company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.04) by $1.58. The firm had revenue of $667.65 million for the quarter, compared to analysts’ expectations of $626.40 million. Hovnanian Enterprises had a return on equity of 11.23% and a net margin of 1.25%.

Insiders Place Their Bets

In other Hovnanian Enterprises news, Director J Larry Sorsby sold 1,032 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $142.57, for a total transaction of $147,132.24. Following the sale, the director directly owned 187,416 shares of the company’s stock, valued at approximately $26,719,899.12. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ara K. Hovnanian sold 12,880 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $125.78, for a total transaction of $1,620,046.40. The SEC filing for this sale provides additional information. 22.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hovnanian Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the business. Mutual Advisors LLC boosted its stake in Hovnanian Enterprises by 98.8% in the fourth quarter. Mutual Advisors LLC now owns 11,448 shares of the construction company’s stock valued at $1,117,000 after acquiring an additional 5,690 shares during the period. Jennison Associates LLC grew its holdings in shares of Hovnanian Enterprises by 150.0% during the fourth quarter. Jennison Associates LLC now owns 12,950 shares of the construction company’s stock valued at $1,263,000 after purchasing an additional 7,770 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Hovnanian Enterprises by 21.2% during the 4th quarter. Pacer Advisors Inc. now owns 42,063 shares of the construction company’s stock worth $4,103,000 after purchasing an additional 7,353 shares during the period. Sterling Capital Management LLC raised its position in shares of Hovnanian Enterprises by 733.1% during the 1st quarter. Sterling Capital Management LLC now owns 2,291 shares of the construction company’s stock worth $254,000 after purchasing an additional 2,016 shares during the period. Finally, Legal Advantage Investments Inc. bought a new stake in shares of Hovnanian Enterprises in the 1st quarter worth approximately $216,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Hovnanian Enterprises Company Profile

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.