Hovnanian Enterprises (NYSE:HOV) Trading 9.8% Higher – What’s Next?

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

Wall Street Analysts Forecast Growth

Separately, Wedbush restated a “neutral” rating and issued a $155.00 price target on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

Hovnanian Enterprises Stock Down 0.3 %

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 firm has a market capitalization of $851.64 million, a price-to-earnings ratio of 4.38 and a beta of 2.70. The stock has a 50 day moving average of $156.97 and a 200 day moving average of $178.99.

Institutional Trading of Hovnanian Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of HOV. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Hovnanian Enterprises during the 3rd quarter valued at about $17,449,000. Brightline Capital Management LLC grew its holdings in shares of Hovnanian Enterprises by 68.8% during the third quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock valued at $16,554,000 after purchasing an additional 33,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 purchasing an additional 23,990 shares during the period. Bank of Montreal Can lifted its holdings in shares of Hovnanian Enterprises by 72.3% in the 2nd quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock worth $6,438,000 after purchasing an additional 19,031 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Hovnanian Enterprises by 16.1% during the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after purchasing an additional 18,622 shares during the period. 65.40% of the stock is owned by institutional investors and hedge funds.

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.