HOV Stock Summary and Trading Ideas (Hovnanian Enterprises Class A | NYSE:HOV)

Hovnanian Enterprises Inc conducts all of its homebuilding and financial services operations . 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. It has two distinct operations: homebuilding and financial services. Its homebuilding operations are divided geographically into three segments; Northeast which includes Delaware, Maryland, New Jersey, Ohio, Pennsylvania, Virginia and West Virginia; Southeast which includes Florida, Georgia and South Carolina; and West which includes Arizona, California and Texas. The firm generates maximum revenue from West Segment.

Hovnanian Enterprises Class A trades on the NYSE stock market under the symbol HOV.

As of April 24, 2024, HOV stock price declined to $148.71 with 56,736 million shares trading.

HOV has a beta of 3.44, meaning it tends to be more sensitive to market movements. HOV has a correlation of 0.30 to the broad based SPY ETF.

HOV has a market cap of $906.35 million. This is considered a Small Cap stock.

In the last 3 years, HOV stock traded as high as $183.60 and as low as $33.20.

The top ETF exchange traded funds that HOV belongs to (by Net Assets): VTI, IWM, AVUV, VXF, IWN.

HOV has outperformed the market in the last year with a price return of +109.2% while the SPY ETF gained +24.2%. However, in the short term, HOV had mixed performance relative to the market. It has underperformed in the last 3 months, returning -2.1% vs +4.6% return in SPY. But in the last 2 weeks, HOV shares have fared better than the market returning +0.6% compared to SPY -2.7%.

HOV support price is $143.41 and resistance is $157.09 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HOV stock will trade within this expected range on the day.