Hovnanian Enterprises (NYSE:HOV) Trading Up 6.1% – Still a Buy?

Hovnanian Enterprises, Inc. (NYSE:HOV)’s stock price was up 6.1% on Monday . The company traded as high as $144.97 and last traded at $143.58. Approximately 32,105 shares traded hands during trading, a decline of 56% from the average daily volume of 72,497 shares. The stock had previously closed at $135.27.

Analysts Set New Price Targets

Separately, Wedbush reissued 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 Stock Performance

The stock has a market capitalization of $807.69 million, a P/E ratio of 4.15 and a beta of 2.70. 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 company’s 50-day moving average is $150.68 and its two-hundred day moving average is $178.99.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings data on Thursday, December 5th. The construction company reported $12.79 earnings per share (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

Institutional investors have recently added to or reduced their stakes in the business. Philadelphia Financial Management of San Francisco LLC bought a new stake in Hovnanian Enterprises in the 3rd quarter valued at $17,449,000. Brightline Capital Management LLC lifted its position in Hovnanian Enterprises by 68.8% during the 3rd quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock worth $16,554,000 after buying an additional 33,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Hovnanian Enterprises by 92.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock worth $10,212,000 after buying an additional 23,990 shares in the last quarter. Bank of Montreal Can lifted its position in Hovnanian Enterprises by 72.3% during the 2nd quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock valued at $6,438,000 after purchasing an additional 19,031 shares during the period. Finally, Foundry Partners LLC lifted its position in Hovnanian Enterprises by 53.3% during the 3rd quarter. Foundry Partners LLC now owns 52,809 shares of the construction company’s stock valued at $10,793,000 after purchasing an additional 18,372 shares during the period. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.