Hovnanian Enterprises (HOV) Shares Gap Up to $2.34

Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $2.28, but opened at $2.34. Hovnanian Enterprises shares last traded at $2.42, with a volume of 1211504 shares.

HOV has been the topic of a number of analyst reports. ValuEngine raised shares of Hovnanian Enterprises from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. MKM Partners downgraded shares of Hovnanian Enterprises from a “neutral” rating to a “sell” rating and set a $1.75 price objective on the stock. in a report on Friday, December 22nd. Three analysts have rated the stock with a sell rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $1.53.

The company has a market capitalization of $349.79, a P/E ratio of -1.00 and a beta of 1.75. The company has a debt-to-equity ratio of -0.28, a current ratio of 0.82 and a quick ratio of 0.33.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Thursday, December 21st. The construction company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.06. The company had revenue of $721.70 million for the quarter, compared to analysts’ expectations of $603.90 million. Hovnanian Enterprises had a negative return on equity of 1.29% and a negative net margin of 13.55%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOV. Renaissance Technologies LLC raised its stake in Hovnanian Enterprises by 50.9% in the 4th quarter. Renaissance Technologies LLC now owns 6,697,714 shares of the construction company’s stock valued at $22,437,000 after acquiring an additional 2,257,812 shares during the period. Blackstone Group L.P. bought a new stake in Hovnanian Enterprises in the 3rd quarter valued at about $6,015,000. State Street Corp raised its stake in Hovnanian Enterprises by 8.4% in the 2nd quarter. State Street Corp now owns 2,294,919 shares of the construction company’s stock valued at $6,428,000 after acquiring an additional 177,582 shares during the period. Northern Trust Corp raised its stake in Hovnanian Enterprises by 3.4% in the 2nd quarter. Northern Trust Corp now owns 1,428,606 shares of the construction company’s stock valued at $4,000,000 after acquiring an additional 47,262 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in Hovnanian Enterprises by 5.9% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 1,249,532 shares of the construction company’s stock valued at $4,185,000 after acquiring an additional 70,000 shares during the period. Institutional investors own 36.16% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Hovnanian Enterprises (HOV) Shares Gap Up to $2.34” was first posted by Week Herald and is owned by of Week Herald. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://weekherald.com/2018/02/23/hovnanian-enterprises-hov-shares-gap-up-to-2-34.html.

About Hovnanian Enterprises

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.

Leave a Reply