Hovnanian Enterprises (HOV) Upgraded to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Hovnanian Enterprises (NYSE:HOV) from a buy rating to a strong-buy rating in a research note published on Monday morning, ValuEngine reports.

Separately, Buckingham Research began coverage on Hovnanian Enterprises in a research note on Friday, January 11th. They issued a neutral rating for the company.

Shares of HOV opened at $12.60 on Monday. Hovnanian Enterprises has a 1 year low of $10.58 and a 1 year high of $52.25.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings data on Thursday, March 7th. The construction company reported ($3.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.50) by ($0.50). The company had revenue of $380.59 million during the quarter. Hovnanian Enterprises had a net margin of 0.91% and a negative return on equity of 2.90%. As a group, equities analysts predict that Hovnanian Enterprises will post -0.75 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Hovnanian Enterprises by 0.3% during the fourth quarter. BlackRock Inc. now owns 9,325,056 shares of the construction company’s stock worth $6,378,000 after purchasing an additional 26,161 shares during the last quarter. Vanguard Group Inc lifted its stake in Hovnanian Enterprises by 3.8% during the third quarter. Vanguard Group Inc now owns 6,508,198 shares of the construction company’s stock worth $10,414,000 after purchasing an additional 236,087 shares during the last quarter. Vanguard Group Inc. lifted its stake in Hovnanian Enterprises by 3.8% during the third quarter. Vanguard Group Inc. now owns 6,508,198 shares of the construction company’s stock worth $10,414,000 after purchasing an additional 236,087 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Hovnanian Enterprises by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 5,895,184 shares of the construction company’s stock worth $9,432,000 after purchasing an additional 50,138 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Hovnanian Enterprises by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 1,223,803 shares of the construction company’s stock worth $836,000 after purchasing an additional 64,190 shares during the last quarter. Hedge funds and other institutional investors own 31.73% of the company’s stock.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes. The company builds and markets homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters in 123 communities in 25 markets.

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