Hovnanian Enterprises (NYSE:HOV) Trading 4.9% Higher

Hovnanian Enterprises, Inc. (NYSE:HOV)’s stock price shot up 4.9% on Thursday . The company traded as high as $136.99 and last traded at $134.76. 15,910 shares traded hands during trading, a decline of 81% from the average session volume of 81,753 shares. The stock had previously closed at $128.50.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a research report on Friday, April 12th. StockNews.com cut shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, March 3rd. Finally, TheStreet raised Hovnanian Enterprises from a “c+” rating to a “b-” rating in a report on Friday, February 16th.

Hovnanian Enterprises Price Performance

The company has a market capitalization of $799.10 million, a P/E ratio of 4.85 and a beta of 2.61. The company has a quick ratio of 0.86, a current ratio of 4.07 and a debt-to-equity ratio of 2.19. The business has a 50 day simple moving average of $149.78 and a 200-day simple moving average of $129.48.

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

Insider Buying and Selling at Hovnanian Enterprises

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Hovnanian Enterprises by 85.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 142,642 shares of the construction company’s stock worth $9,676,000 after purchasing an additional 65,519 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Hovnanian Enterprises by 15.3% in the 2nd quarter. Renaissance Technologies LLC now owns 261,715 shares of the construction company’s stock valued at $11,199,000 after acquiring an additional 34,810 shares in the last quarter. Norges Bank acquired a new position in Hovnanian Enterprises in the 4th quarter worth approximately $1,435,000. BlackRock Inc. grew its position in Hovnanian Enterprises by 9.9% during the 2nd quarter. BlackRock Inc. now owns 331,716 shares of the construction company’s stock worth $32,910,000 after purchasing an additional 29,938 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Hovnanian Enterprises during the 4th quarter valued at $1,086,000. 65.40% of the stock is owned by institutional investors and hedge funds.

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.