Shares of Hovnanian Enterprises, Inc. (NYSE:HOV) gapped down before the market opened on Monday . The stock had previously closed at $3.12, but opened at $2.99. Hovnanian Enterprises shares last traded at $2.80, with a volume of 3184200 shares.

HOV has been the subject of a number of research reports. TheStreet cut shares of Hovnanian Enterprises from a “c-” rating to a “d” rating in a research report on Thursday, September 7th. MKM Partners reaffirmed a “neutral” rating on shares of Hovnanian Enterprises in a research report on Tuesday, September 5th.

The company has a market capitalization of $384.13, a P/E ratio of -1.24 and a beta of 1.98. The company has a debt-to-equity ratio of -0.30, a quick ratio of 0.24 and a current ratio of 0.82.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Thursday, December 21st. The construction company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. The business had revenue of $721.70 million for the quarter, compared to analyst estimates of $603.90 million. Hovnanian Enterprises had a negative net margin of 13.55% and a negative return on equity of 1.48%. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 EPS.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Hovnanian Enterprises by 21.4% in the first quarter. Vanguard Group Inc. now owns 5,399,420 shares of the construction company’s stock valued at $12,257,000 after acquiring an additional 953,607 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Hovnanian Enterprises by 10.4% in the first quarter. Dimensional Fund Advisors LP now owns 627,804 shares of the construction company’s stock valued at $1,425,000 after acquiring an additional 59,100 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Hovnanian Enterprises by 29.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 482,080 shares of the construction company’s stock valued at $1,095,000 after acquiring an additional 108,506 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Hovnanian Enterprises by 12.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 89,415 shares of the construction company’s stock valued at $203,000 after acquiring an additional 9,560 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Hovnanian Enterprises by 79.1% in the second quarter. Canada Pension Plan Investment Board now owns 448,400 shares of the construction company’s stock valued at $1,256,000 after acquiring an additional 198,100 shares in the last quarter. Hedge funds and other institutional investors own 32.14% of the company’s stock.

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About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.

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