Analyst Price Target Update on Hovnanian Enterprises Inc (NYSE:HOV)

Hovnanian Enterprises Inc (NYSE:HOV): The mean estimate for the short term price target for Hovnanian Enterprises Inc (NYSE:HOV) stands at $2.25 according to 3 Analysts. The higher price target estimate for the stock has been calculated at $3 while the lower price target estimate is at $2.

Many analysts have stated their opinion on the company shares. Brokerage firm Deutsche Bank maintains its rating on Hovnanian Enterprises Inc (NYSE:HOV). As per the latest information, the brokerage house lowers the price target to $2 per share from a prior target of $2.4. The shares have been rated Hold. The rating by the firm was issued on March 29, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities, 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 (NYSE:HOV) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.06 points or 3.53% at $1.64 with 1,872,810 shares getting traded. Post opening the session at $1.68, the shares hit an intraday low of $1.64 and an intraday high of $1.76 and the price was in this range throughout the day. The company has a market cap of $241 million and the number of outstanding shares have been calculated to be 147,120,130 shares. The 52-week high of Hovnanian Enterprises Inc (NYSE:HOV) is $2.91 and the 52-week low is $1.19.

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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