Hovnanian Enterprises (NYSE:HOV) Shares Gap Down – Should You Sell?

Hovnanian Enterprises, Inc. (NYSE:HOV) shares gapped down before the market opened on Wednesday . The stock had previously closed at $132.56, but opened at $125.87. Hovnanian Enterprises shares last traded at $126.55, with a volume of 7,774 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a research report on Wednesday. Wedbush restated a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a report on Monday, December 16th.

Hovnanian Enterprises Stock Performance

The firm’s 50 day moving average price is $137.27 and its two-hundred day moving average price is $174.37. The firm has a market cap of $809.92 million, a PE ratio of 4.16 and a beta of 2.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52.

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

Hedge Funds Weigh In On Hovnanian Enterprises

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted 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 worth $71,000 after buying an additional 59 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Hovnanian Enterprises by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company’s stock worth $1,186,000 after acquiring an additional 81 shares in the last quarter. Rhumbline Advisers boosted its holdings in Hovnanian Enterprises by 1.0% during the 4th quarter. Rhumbline Advisers now owns 8,850 shares of the construction company’s stock valued at $1,184,000 after acquiring an additional 85 shares during the period. Koss Olinger Consulting LLC grew its position in Hovnanian Enterprises by 3.5% in the 3rd quarter. Koss Olinger Consulting LLC now owns 3,404 shares of the construction company’s stock valued at $696,000 after acquiring an additional 115 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Hovnanian Enterprises by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company’s stock valued at $274,000 after acquiring an additional 145 shares in the last quarter. 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.