Hovnanian Enterprises Inc. (NYSE: HOV) stock suffered a major decline of -12.2% on 5/22/24. The shares closed at $148.55. Moreover, trading volume in this decline was exceptionally high at 338% of normal. The stock has been exceptionally strong relative to the market over the last nine months but has declined -13.8% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, HOV is expected to continue to be a major Value Builder.
Hovnanian Enterprises has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Hovnanian Enterprises has a very high Appreciation Score of 88 and a very high Power Rating of 97, and the Highest Value Trend Rating results.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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