Hovnanian Enterprises Inc (HOV) : Analyst Rating Update

Hovnanian Enterprises Inc (HOV) : The consensus on Hovnanian Enterprises Inc (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 (HOV) : 2 investment research analysts covering Hovnanian Enterprises Inc (HOV) have an average price target of $1.88 for the near short term. The highest target price given by the Brokerage Firm to the stock is $2 and the lowest target is $2 for the short term. Analysts expect the variance to be within $0.18 of the average price.

Hovnanian Enterprises Inc (NYSE:HOV): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.64 and $1.64 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.73. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.72, notching a gain of 2.99% for the day. The total traded volume was 1,083,383 . The stock had closed at $1.67 on the previous day.

The company shares have dropped -33.47% from its 1 Year high price. On Jul 8, 2015, the shares registered one year high at $2.62 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $1.69 and the 200 Day Moving Average price is recorded at $1.61.

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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