Hovnanian Enterprises (NYSE:HOV) Trading Up 6.1% – What’s Next?

Hovnanian Enterprises, Inc. (NYSE:HOV) shares rose 6.1% during mid-day trading on Monday . The company traded as high as $144.97 and last traded at $143.58. Approximately 32,105 shares changed hands during trading, a decline of 56% from the average daily volume of 72,497 shares. The stock had previously closed at $135.27.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated a “neutral” rating and set a $155.00 price target on shares of Hovnanian Enterprises in a research report on Monday, December 16th.

Hovnanian Enterprises Stock Down 2.7 %

The company’s 50-day moving average is $150.68 and its 200 day moving average is $178.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The company has a market capitalization of $807.69 million, a PE ratio of 4.15 and a beta of 2.70.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings results on Thursday, December 5th. The construction company reported $12.79 earnings per share for the quarter. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%.

Institutional Trading of Hovnanian Enterprises

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Hovnanian Enterprises in the third quarter worth $33,000. FMR LLC increased its position in shares of Hovnanian Enterprises by 20.6% during the third quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after acquiring an additional 59 shares during the last quarter. CWM LLC increased its stake in Hovnanian Enterprises by 89.6% during the 3rd quarter. CWM LLC now owns 749 shares of the construction company’s stock worth $153,000 after buying an additional 354 shares during the period. Creative Planning purchased a new stake in Hovnanian Enterprises during the 3rd quarter worth approximately $202,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Hovnanian Enterprises during the 3rd quarter worth approximately $205,000. Hedge funds and other institutional investors own 65.40% 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.