TheStreet Upgrades Hovnanian Enterprises to Hold (HOV)

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Hovnanian Enterprises (NYSE:HOV) was upgraded by equities research analysts at TheStreet to a “hold” rating in a research note issued to investors on Monday, American Banking and Market News reports.

A number of other firms have also recently commented on HOV. Analysts at Thomson Reuters/Verus upgraded shares of Hovnanian Enterprises from a “sell” rating to a “hold” rating in a research note to investors on Monday, November 4th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $6.20.

Hovnanian Enterprises (NYSE:HOV) opened at 6.62 on Monday. Hovnanian Enterprises has a 52 week low of $4.65 and a 52 week high of $7.43. The stock’s 50-day moving average is $5.32 and its 200-day moving average is $5.32. The company has a market cap of $921.5 million and a P/E ratio of 29.95.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data on Thursday, December 12th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $591.70 million for the quarter, compared to the consensus estimate of $582.89 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Analysts expect that Hovnanian Enterprises will post $0.45 EPS for the current fiscal year.

Hovnanian Enterprises, Inc (NYSE:HOV) designs, constructs, markets, and sells single-family detached homes, attached townhomes and condominiums, mid-rise condominiums, urban infill and active adult homes in planned residential developments.

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