The Vanguard Group, Inc. recently announced the acquisition of new stake in Hovnanian Enterprises Inc. (NYSE:HOV). The institutional investor has increased its shareholding in the Consumer Cyclical company by 5.09% to 0.25 million shares with purchase of 11929.0 shares. This fresh investment now brings its stake to 4.68% valued currently at $10.36 million. In addition, Geode Capital Management LLC raised its holdings by 1501.0 to 87382.0 shares.
With over 0.16 million Hovnanian Enterprises Inc. (HOV) shares trading Monday and a closing price of $54.93 on the day, the dollar volume was approximately $8.92 million. The shares have shown a positive half year performance of 9.84% and its price on 01/23/23 gained nearly 6.83%. Currently, there are 6.48M common shares owned by the public and among those 5.93M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for HOV have a consensus price objective of $27.00. The analysts have set the share’s price value over the next 12 months at a high of $27.00 and a low of $27.00. But a downside of -103.44% will see the stock hit the forecast high price target while median target price for the stock is $27.00.
Insiders at the company have transacted a total of 43 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 84,425 shares. Insider sales of the common stock occurred on 27 occasions, with total insider shares sold totaling 83,540 shares.
The top 3 mutual fund holders in Hovnanian Enterprises Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.18 million shares of the company’s stock, all valued at over $7.56 million. iShares Russell 2000 ETF sold 1159.0 shares to see its total holdings shrink to 0.11 million shares valued at over $4.75 million and representing 2.15% of the shares outstanding. Vanguard Extended Market Index Fu sold 146.0 shares to bring its total holdings to over 64069.0 shares at a value of $2.7 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.22% of the shares outstanding.
Shares of Hovnanian Enterprises Inc. (NYSE: HOV) opened at $51.70, up $0.28 from a prior closing price of $51.42. However, the script later moved the day high at 58.00, up 6.83%. The company’s stock has a 5-day price change of 7.52% and 63.68% over the past three months. HOV shares are trading 30.54% year to date (YTD), with the 12-month market performance down to -44.13% lower. It has a 12-month low price of $33.20 and touched a high of $105.50 over the same period. HOV has an average intraday trading volume of 84.45K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.97%, 20.47%, and 21.88% respectively.
Institutional ownership of Hovnanian Enterprises Inc. (NYSE: HOV) shares accounts for 53.70% of the company’s 6.48M shares outstanding. Mutual fund holders own 28.72%, while other institutional holders and individual stakeholders account for 39.98% and 14.90% respectively.
It has a market capitalization of $446.03M and a beta (3y monthly) value of 2.51. The stock’s trailing 12-month PE ratio is 1.90, while the earnings-per-share (ttm) stands at $28.91. The company has a debt-to-equity ratio at 5.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.67% over the week and 5.79% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Hovnanian Enterprises Inc. (HOV) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
MKM Partners on their part issued Neutral rating on June 03, 2016.