Hovnanian Enterprises (NYSE:HOV) Trading Up 3.1%

Hovnanian Enterprises, Inc. (NYSE:HOV)’s stock price traded up 3.1% during trading on Monday . The stock traded as high as $154.49 and last traded at $152.35. 19,755 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 79,124 shares. The stock had previously closed at $147.77.

Wall Street Analyst Weigh In

Several research firms have commented on HOV. Zelman & Associates raised shares of Hovnanian Enterprises from an “underperform” rating to a “neutral” rating and set a $155.00 target price on the stock in a research report on Thursday, May 23rd. StockNews.com upgraded Hovnanian Enterprises from a “hold” rating to a “buy” rating in a report on Monday, June 3rd.

Hovnanian Enterprises Price Performance

The firm has a market cap of $920.60 million, a PE ratio of 5.03 and a beta of 2.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.32. The business’s fifty day moving average is $151.33 and its 200-day moving average is $150.92.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Wednesday, May 22nd. The construction company reported $6.66 earnings per share for the quarter. The firm had revenue of $708.38 million during the quarter. Hovnanian Enterprises had a net margin of 8.02% and a return on equity of 54.85%. On average, research analysts predict that Hovnanian Enterprises, Inc. will post 27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robin Stone Sellers sold 1,459 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $154.20, for a total transaction of $224,977.80. Following the transaction, the director now owns 22,716 shares of the company’s stock, valued at approximately $3,502,807.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Hovnanian Enterprises news, Director Edward A. Kangas sold 2,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $144.72, for a total transaction of $289,440.00. Following the sale, the director now owns 21,743 shares of the company’s stock, valued at approximately $3,146,646.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robin Stone Sellers sold 1,459 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $154.20, for a total value of $224,977.80. Following the completion of the transaction, the director now directly owns 22,716 shares of the company’s stock, valued at $3,502,807.20. The disclosure for this sale can be found here. Insiders sold 4,459 shares of company stock valued at $672,238 over the last ninety days. 17.67% of the stock is currently owned by insiders.

Institutional Trading of Hovnanian Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale purchased a new position in Hovnanian Enterprises during the 3rd quarter valued at about $66,000. CWM LLC grew its stake in Hovnanian Enterprises by 3,541.7% during the first quarter. CWM LLC now owns 437 shares of the construction company’s stock valued at $69,000 after acquiring an additional 425 shares in the last quarter. AJOVista LLC bought a new stake in Hovnanian Enterprises during the 4th quarter worth approximately $97,000. Russell Investments Group Ltd. increased its holdings in Hovnanian Enterprises by 27.4% during the 4th quarter. Russell Investments Group Ltd. now owns 791 shares of the construction company’s stock worth $123,000 after acquiring an additional 170 shares during the period. Finally, EntryPoint Capital LLC lifted its stake in Hovnanian Enterprises by 309.9% in the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock worth $130,000 after purchasing an additional 626 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors.

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.