Hovnanian Enterprises (NYSE:HOV – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Hovnanian Enterprises Trading Down 4.4 %
NYSE:HOV traded down $7.35 during trading hours on Friday, hitting $160.75. 94,070 shares of the stock were exchanged, compared to its average volume of 82,805. The company’s 50 day moving average is $157.07 and its two-hundred day moving average is $117.12. Hovnanian Enterprises has a twelve month low of $60.06 and a twelve month high of $183.60. The company has a quick ratio of 0.41, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $980.58 million, a P/E ratio of 5.92 and a beta of 2.66.
Hovnanian Enterprises (NYSE:HOV – Get Free Report) last posted its quarterly earnings results on Tuesday, December 5th. The construction company reported $15.57 earnings per share for the quarter. The company had revenue of $887.03 million for the quarter. Hovnanian Enterprises had a return on equity of 66.13% and a net margin of 7.47%.
Insider Activity
In other Hovnanian Enterprises news, Director Vincent Pagano, Jr. sold 3,862 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $154.59, for a total transaction of $597,026.58. Following the completion of the transaction, the director now owns 30,051 shares in the company, valued at approximately $4,645,584.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Hovnanian Enterprises news, Director Vincent Pagano, Jr. sold 3,862 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $154.59, for a total transaction of $597,026.58. Following the completion of the transaction, the director now owns 30,051 shares in the company, valued at approximately $4,645,584.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ara K. Hovnanian sold 32,117 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $140.71, for a total value of $4,519,183.07. Following the transaction, the chief executive officer now owns 20,201 shares of the company’s stock, valued at approximately $2,842,482.71. The disclosure for this sale can be found here. Insiders have sold a total of 52,616 shares of company stock valued at $7,700,027 in the last 90 days. 17.67% of the stock is owned by company insiders.
Hedge Funds Weigh In On Hovnanian Enterprises
Several hedge funds have recently modified their holdings of the stock. Swiss National Bank lifted its stake in Hovnanian Enterprises by 8.2% in the 1st quarter. Swiss National Bank now owns 11,900 shares of the construction company’s stock valued at $703,000 after purchasing an additional 900 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Hovnanian Enterprises by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 34,255 shares of the construction company’s stock valued at $2,024,000 after purchasing an additional 1,496 shares during the last quarter. Bank of Montreal Can lifted its stake in Hovnanian Enterprises by 189.1% in the 1st quarter. Bank of Montreal Can now owns 29,080 shares of the construction company’s stock valued at $1,865,000 after purchasing an additional 19,020 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Hovnanian Enterprises by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 3,048 shares of the construction company’s stock valued at $180,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Hovnanian Enterprises by 8.4% in the 1st quarter. Rhumbline Advisers now owns 6,777 shares of the construction company’s stock valued at $401,000 after purchasing an additional 526 shares during the last quarter. Institutional investors own 60.97% of the company’s stock.
About Hovnanian Enterprises
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.