Alert: Positive Investment/Fundamental Signals (12/7/23)-Hovnanian Enterprises Inc. (NYSE: HOV)


Recent exceptional positive changes in investment behavior have benefitted Hovnanian Enterprises Inc. (NYSE: HOV): its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, and the stock rose on very heavy volume.

Recent marginal positive changes in fundamentals have benefitted Hovnanian Enterprises Inc. (NYSE: HOV): significant quarterly earnings acceleration occurred.

In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.


Current PriceTarget Research Rating

HOV’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company 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 very high Power Rating of 94 and a very high Appreciation Score of 96, resulting in the Highest Value Trend Rating.

Recent Price Action

Hovnanian Enterprises Inc. (NYSE: HOV) stock closed at $129.99 on 12/7/23 after a very large increase of 9.9%. Moreover, trading volume in this advance was exceptionally high at 236% of normal. The stock has risen 45.5% during the last week and has been exceptionally strong relative to the market over the last nine months.

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