Analyst Rating Update on Hovnanian Enterprises Inc (HOV)

Hovnanian Enterprises Inc (NYSE:HOV) : The consensus on Hovnanian Enterprises Inc (NYSE:HOV) based on 3 analyst recommendation on the company stock is 3, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 4 which endorses a Sell on the stock. However, 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Hovnanian Enterprises Inc (NYSE:HOV) : The most positive equity analysts on Hovnanian Enterprises Inc (NYSE:HOV) expects the shares to touch $2, whereas, the least positive believes that the stock will trade at $2 in the short term. The company is covered by 2 Wall Street Brokerage Firms. The average price target for shares are $1.88 with an expected fluctuation of $0.18 from the mean.

Company shares have received an average consensus rating of Hold for the current week

Hovnanian Enterprises Inc (NYSE:HOV): stock turned positive on Tuesday. Though the stock opened at $1.6, the bulls momentum made the stock top out at $1.63 level for the day. The stock recorded a low of $1.57 and closed the trading day at $1.6, in the green by 3.90%. The total traded volume for the day was 973,710. The stock had closed at $1.54 in the previous days trading.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Hovnanian Enterprises Inc, Pagano Vincent Jr, had purchased 14,535 shares in a transaction dated on April 14, 2016. The transaction was executed at $1.74 per share with total amount equaling $25,291.

Hovnanian Enterprises, Inc. (Hovnanian) design, construct, market, and sell single-family detached homes, attached townhomes and condominiums, urban infill, and active adult homes in planned residential developments. The Company consists of two distinct operations: homebuilding and financial services. Its homebuilding operations consist of six segments: Northeast, including New Jersey and Pennsylvania; Mid-Atlantic, including Delaware, Maryland, Virginia, West Virginia, and Washington, D.C; Midwest, including Illinois, Minnesota and Ohio; Southeast, including Florida, Georgia, North Carolina and South Carolina; Southwest, including Arizona and Texas, and West, including California. Its financial services operations provide mortgage loans and title services to the customers of its homebuilding operations. During fiscal year ended October 31, 2013 (fiscal 2013), the Company had delivered 5,266 homes.

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