Hovnanian Enterprises (HOV) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Hovnanian Enterprises (NYSE:HOV) from a hold rating to a buy rating in a report released on Sunday morning.

Several other analysts have also weighed in on HOV. MKM Partners reaffirmed a neutral rating on shares of Hovnanian Enterprises in a report on Tuesday, September 5th. TheStreet lowered shares of Hovnanian Enterprises from a c- rating to a d rating in a report on Thursday, September 7th. Three research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company’s stock. Hovnanian Enterprises currently has a consensus rating of Hold and a consensus price target of $1.53.

Shares of Hovnanian Enterprises (NYSE HOV) opened at $3.35 on Friday. The firm has a market cap of $494.43, a P/E ratio of -1.49 and a beta of 2.00. The company has a debt-to-equity ratio of -0.30, a quick ratio of 0.24 and a current ratio of 0.82. Hovnanian Enterprises has a fifty-two week low of $1.66 and a fifty-two week high of $3.36.

Hovnanian Enterprises (NYSE:HOV) last posted its quarterly earnings data on Thursday, December 21st. The construction company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.06. The company had revenue of $721.70 million during the quarter, compared to analyst estimates of $603.90 million. Hovnanian Enterprises had a negative net margin of 13.55% and a negative return on equity of 1.48%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.16 earnings per share.

Institutional investors have recently modified their holdings of the stock. Northern Trust Corp increased its holdings in shares of Hovnanian Enterprises by 3.4% in the second quarter. Northern Trust Corp now owns 1,428,606 shares of the construction company’s stock valued at $4,000,000 after purchasing an additional 47,262 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Hovnanian Enterprises by 92.2% in the second quarter. TIAA CREF Investment Management LLC now owns 1,087,768 shares of the construction company’s stock valued at $3,046,000 after purchasing an additional 521,737 shares in the last quarter. Blackstone Group L.P. acquired a new stake in shares of Hovnanian Enterprises in the third quarter valued at approximately $6,015,000. Alliancebernstein L.P. increased its holdings in shares of Hovnanian Enterprises by 75.4% in the second quarter. Alliancebernstein L.P. now owns 734,378 shares of the construction company’s stock valued at $2,056,000 after purchasing an additional 315,780 shares in the last quarter. Finally, Federated Investors Inc. PA increased its holdings in shares of Hovnanian Enterprises by 7,889.2% in the second quarter. Federated Investors Inc. PA now owns 274,031 shares of the construction company’s stock valued at $767,000 after purchasing an additional 270,601 shares in the last quarter. 32.14% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This piece of content was first published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.chaffeybreeze.com/2018/01/01/hovnanian-enterprises-hov-upgraded-to-buy-by-valuengine.html.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.

Receive News & Ratings for Hovnanian Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hovnanian Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply