Hovnanian Enterprises (NYSE:HOV) Given Underperform Rating at Zelman & Associates

Zelman & Associates reaffirmed their underperform rating on shares of Hovnanian Enterprises (NYSE:HOV) in a research report sent to investors on Friday, Benzinga reports.

A number of other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Hovnanian Enterprises from a buy rating to a hold rating in a report on Sunday, March 3rd. TheStreet upgraded shares of Hovnanian Enterprises from a c+ rating to a b- rating in a report on Friday, February 16th.

Hovnanian Enterprises Stock Down 5.3 %

Shares of NYSE HOV opened at $134.16 on Friday. Hovnanian Enterprises has a 1 year low of $63.39 and a 1 year high of $183.60. The firm’s 50 day moving average price is $150.73 and its 200 day moving average price is $129.26. The firm has a market cap of $818.38 million, a P/E ratio of 4.82 and a beta of 2.61. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.86 and a current ratio of 4.07.

Hovnanian Enterprises (NYSE:HOV) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.75 earnings per share (EPS) for the quarter. Hovnanian Enterprises had a net margin of 7.45% and a return on equity of 58.22%. The firm had revenue of $594.20 million for the quarter.

Insider Buying and Selling at Hovnanian Enterprises

In related news, CEO Ara K. Hovnanian sold 1,000 shares of Hovnanian Enterprises stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $157.82, for a total transaction of $157,820.00. Following the transaction, the chief executive officer now owns 51,475 shares in the company, valued at approximately $8,123,784.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hovnanian Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in HOV. Swiss National Bank increased its stake in Hovnanian Enterprises by 8.2% during the 1st quarter. Swiss National Bank now owns 11,900 shares of the construction company’s stock worth $703,000 after buying an additional 900 shares during the period. Bank of New York Mellon Corp increased its stake in Hovnanian Enterprises by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 34,255 shares of the construction company’s stock worth $2,024,000 after buying an additional 1,496 shares during the period. Bank of Montreal Can increased its stake in Hovnanian Enterprises by 189.1% during the 1st quarter. Bank of Montreal Can now owns 29,080 shares of the construction company’s stock worth $1,865,000 after buying an additional 19,020 shares during the period. MetLife Investment Management LLC increased its stake in Hovnanian Enterprises by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 3,048 shares of the construction company’s stock worth $180,000 after buying an additional 1,125 shares during the period. Finally, Rhumbline Advisers increased its stake in Hovnanian Enterprises by 8.4% during the 1st quarter. Rhumbline Advisers now owns 6,777 shares of the construction company’s stock worth $401,000 after buying an additional 526 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.