Hovnanian Enterprises (NYSE:HOV) Given Underperform Rating at Zelman & Associates

Zelman & Associates reissued their underperform rating on shares of Hovnanian Enterprises (NYSE:HOV) in a report issued on Friday morning, Benzinga reports.

A number of other brokerages also recently weighed in on HOV. TheStreet raised shares of Hovnanian Enterprises from a c+ rating to a b- rating in a report on Friday, February 16th. StockNews.com cut shares of Hovnanian Enterprises from a buy rating to a hold rating in a research note on Sunday, March 3rd.

Hovnanian Enterprises Price Performance

Shares of Hovnanian Enterprises stock opened at $134.16 on Friday. The company has a debt-to-equity ratio of 2.19, a current ratio of 4.07 and a quick ratio of 0.86. Hovnanian Enterprises has a fifty-two week low of $63.39 and a fifty-two week high of $183.60. The firm has a fifty day moving average price of $150.73 and a two-hundred day moving average price of $129.26. The company has a market cap of $818.38 million, a PE ratio of 4.82 and a beta of 2.61.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.75 earnings per share for the quarter. Hovnanian Enterprises had a net margin of 7.45% and a return on equity of 58.22%. The firm had revenue of $594.20 million during the quarter.

Insider Activity

In other news, CEO Ara K. Hovnanian sold 1,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $157.82, for a total value of $157,820.00. Following the completion of the transaction, the chief executive officer now owns 51,475 shares in the company, valued at approximately $8,123,784.50. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 17.67% of the company’s stock.

Institutional Investors Weigh In On Hovnanian Enterprises

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of Hovnanian Enterprises by 588.9% during the 4th quarter. SG Americas Securities LLC now owns 14,873 shares of the construction company’s stock worth $2,315,000 after purchasing an additional 12,714 shares in the last quarter. UBS Group AG increased its position in shares of Hovnanian Enterprises by 8.4% during the 3rd quarter. UBS Group AG now owns 45,432 shares of the construction company’s stock worth $4,619,000 after purchasing an additional 3,528 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Hovnanian Enterprises during the 3rd quarter worth about $447,000. Los Angeles Capital Management LLC acquired a new stake in shares of Hovnanian Enterprises during the 3rd quarter worth about $1,614,000. Finally, American Century Companies Inc. increased its position in shares of Hovnanian Enterprises by 25.5% during the 3rd quarter. American Century Companies Inc. now owns 81,645 shares of the construction company’s stock worth $8,300,000 after purchasing an additional 16,575 shares in the last quarter. Institutional investors and hedge funds 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.