Hovnanian Enterprises (NYSE:HOV) Trading 9.8% Higher – Time to Buy?

Hovnanian Enterprises, Inc. (NYSE:HOV)’s share price shot up 9.8% during trading on Tuesday . The stock traded as high as $131.23 and last traded at $131.23. Approximately 36,093 shares changed hands during trading, a decline of 50% from the average session volume of 72,283 shares. The stock had previously closed at $119.55.

Analysts Set New Price Targets

Separately, Wedbush reiterated 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 Down 0.3 %

The firm has a 50-day moving average of $156.97 and a 200 day moving average of $178.99. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $851.64 million, a price-to-earnings ratio of 4.38 and a beta of 2.70.

Institutional Investors Weigh In On Hovnanian Enterprises

Several institutional investors have recently bought and sold shares of the stock. FMR LLC increased its stake in Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock valued at $71,000 after buying an additional 59 shares during the period. Koss Olinger Consulting LLC increased its stake in shares of Hovnanian Enterprises by 3.5% during the third 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 during the period. The Manufacturers Life Insurance Company raised its holdings in Hovnanian Enterprises by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company’s stock worth $274,000 after purchasing an additional 145 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Hovnanian Enterprises in the third quarter worth approximately $33,000. Finally, Cerity Partners LLC boosted its stake in Hovnanian Enterprises by 7.8% during the 3rd quarter. Cerity Partners LLC now owns 2,624 shares of the construction company’s stock valued at $536,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Hovnanian Enterprises Company Profile

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.