Hovnanian Enterprises (NYSE:HOV) Earns Underperform Rating from Zelman & Associates

Hovnanian Enterprises (NYSE:HOV)‘s stock had its “underperform” rating reissued by analysts at Zelman & Associates in a research report issued on Wednesday,Benzinga reports.

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

Hovnanian Enterprises Trading Up 2.8 %

HOV opened at $133.65 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.52 and a quick ratio of 0.34. Hovnanian Enterprises has a fifty-two week low of $115.90 and a fifty-two week high of $240.34. The firm has a market capitalization of $809.25 million, a PE ratio of 4.16 and a beta of 2.71. The company’s 50-day moving average is $137.27 and its 200 day moving average is $174.37.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Canada Pension Plan Investment Board bought a new position in shares of Hovnanian Enterprises during the 4th quarter valued at approximately $883,000. XTX Topco Ltd bought a new position in shares of Hovnanian Enterprises during the 4th quarter valued at approximately $514,000. Barclays PLC grew its position in shares of Hovnanian Enterprises by 12.5% during the 4th quarter. Barclays PLC now owns 9,306 shares of the construction company’s stock valued at $1,246,000 after acquiring an additional 1,032 shares during the period. Legal & General Group Plc grew its position in shares of Hovnanian Enterprises by 5.5% during the 4th quarter. Legal & General Group Plc now owns 5,045 shares of the construction company’s stock valued at $675,000 after acquiring an additional 265 shares during the period. Finally, Cerity Partners LLC grew its position in shares of Hovnanian Enterprises by 60.9% during the 4th quarter. Cerity Partners LLC now owns 4,223 shares of the construction company’s stock valued at $572,000 after acquiring an additional 1,599 shares during the period. 65.40% of the stock is owned by institutional investors.

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.