Hovnanian Enterprises, Inc. (NYSE:HOV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Hovnanian Enterprises, Inc. is one of the nation’s largest homebuilders. The Company’s homes are marketed and sold under the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton Homes, Parkwood Builders, Town & Country Homes, Oster Homes and CraftBuilt Homes. The Company has operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Kentucky, Maryland, Minnesota, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia. As the developer of K. Hovnanian’s Four Seasons communities, the Company is also one of the nation’s largest builders of active adult homes. “

Separately, JMP Securities cut Hovnanian Enterprises from a “market perform” rating to an “underperform” rating and set a $1.60 target price for the company. in a research note on Thursday, January 12th.

Shares of Hovnanian Enterprises (NYSE:HOV) traded down 1.27% on Monday, hitting $2.33. The company had a trading volume of 850,826 shares. Hovnanian Enterprises has a 12-month low of $1.41 and a 12-month high of $2.96. The firm has a market capitalization of $343.35 million, a P/E ratio of 26.18 and a beta of 2.02. The firm has a 50 day moving average of $2.33 and a 200-day moving average of $2.10.

Your IP Address:

A number of hedge funds and other institutional investors have recently bought and sold shares of HOV. Metropolitan Life Insurance Co. NY boosted its position in Hovnanian Enterprises by 5.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 79,855 shares of the company’s stock valued at $218,000 after buying an additional 3,830 shares in the last quarter. Dudley & Shanley LLC boosted its position in Hovnanian Enterprises by 0.3% in the third quarter. Dudley & Shanley LLC now owns 2,617,200 shares of the company’s stock valued at $4,423,000 after buying an additional 8,000 shares in the last quarter. A.R.T. Advisors LLC boosted its position in Hovnanian Enterprises by 101.0% in the fourth quarter. A.R.T. Advisors LLC now owns 62,500 shares of the company’s stock valued at $170,000 after buying an additional 31,400 shares in the last quarter. AQR Capital Management LLC boosted its position in Hovnanian Enterprises by 30.9% in the fourth quarter. AQR Capital Management LLC now owns 206,254 shares of the company’s stock valued at $563,000 after buying an additional 48,654 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Hovnanian Enterprises by 138.6% in the third quarter. Wells Fargo & Company MN now owns 103,650 shares of the company’s stock valued at $175,000 after buying an additional 60,200 shares in the last quarter. 26.33% of the stock is owned by hedge funds and other institutional investors.

Hovnanian Enterprises Company Profile

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.

5 Day Chart for NYSE:HOV

Get a free copy of the Zacks research report on Hovnanian Enterprises (HOV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Hovnanian Enterprises Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hovnanian Enterprises Inc. and related companies with MarketBeat.com's FREE daily email newsletter.