New insider activity at Hovnanian Enterprises ( (HOV) ) has taken place on March 6, 2025.
Director Edward Kangas recently sold 2,000 shares of Hovnanian Enterprises stock, generating a total of $203,020 from the transaction.
Recent Updates on HOV stock
Hovnanian Enterprises recently held its Q1 earnings call, revealing a mix of achievements and challenges. The company reported a 13% increase in total revenues, reaching $674 million, and a significant rise in controlled lots, indicating strong future potential. However, it faced lower-than-expected revenue guidance due to fewer deliveries and utility delays, and a decline in gross margins from increased incentives. Sales volatility and permitting delays further complicated its operations. Despite these hurdles, Hovnanian remains optimistic, with forward guidance suggesting revenues between $675 million and $775 million for the next quarter. Analyst Jay McCanless from Wedbush lowered the price target for Hovnanian, citing overly aggressive assumptions about the company’s profitability and joint venture income. The adjustment aligns expectations more closely with current performance rather than anticipated improvements. The firm noted Hovnanian’s price increases along the eastern seaboard as a positive development.
More about Hovnanian Enterprises
YTD Price Performance: -21.17%
Average Trading Volume: 86,948
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $602.5M