Hovnanian Enterprises (NYSE:HOV) Shares Down 6.9% – Time to Sell?

Hovnanian Enterprises, Inc. (NYSE:HOV) shares were down 6.9% during trading on Tuesday . The stock traded as low as $127.00 and last traded at $126.42. Approximately 26,069 shares traded hands during trading, a decline of 61% from the average daily volume of 66,465 shares. The stock had previously closed at $135.77.

Analyst Ratings Changes

Several research analysts recently commented on HOV shares. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th. Wedbush restated a “neutral” rating and set a $155.00 target price on shares of Hovnanian Enterprises in a report on Monday, December 16th.

Hovnanian Enterprises Trading Down 0.7 %

The stock has a market cap of $768.27 million, a price-to-earnings ratio of 3.95 and a beta of 2.71. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $133.66 and its 200 day simple moving average is $171.89.

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 net margin of 8.05% and a return on equity of 43.47%.

Institutional Trading of Hovnanian Enterprises

A number of hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in shares of Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after buying an additional 59 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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 buying an additional 81 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Hovnanian Enterprises by 1.0% during the 4th quarter. Rhumbline Advisers now owns 8,850 shares of the construction company’s stock worth $1,184,000 after buying an additional 85 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Hovnanian Enterprises by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,823 shares of the construction company’s stock worth $378,000 after buying an additional 117 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Hovnanian Enterprises during the 3rd quarter worth about $33,000. 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.