Hovnanian Enterprises Inc. (NYSE: HOV) has reported E.P.S. of $10.61 for its third fiscal quarter (ending July 31) versus $7.92 for the same period a year ago. For the latest four quarters through July 31, E.P.S. were $34.83 versus $22.52 for the same period a year ago.
Recent Price Action
On 8/22/24, Hovnanian Enterprises Inc. (NYSE: HOV) stock enjoyed a major increase of 14.8%, closing at $238.30. Moreover, exceptionally high trading volume at 246% of normal accompanied the advance. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 28.3% 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). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Hovnanian Enterprises has a good Appreciation Score of 84 and a very high Power Rating of 87, and the Highest Value Trend Rating results.
Rating Review
In light of this new information and very positive 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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