$HOV Still loads of upside in Hovnanian Enterprises
Entry level $25 = Target price $35 = Stop loss $23
Extremely bullish reversal of the bottom in 2019, but now overbought so expect a small pullback.
The interest rate changes has added new stimulus to the sector.
Demand is outpacing supply as consumers clamber to take advantage of economic conditions.
P/E ratio 26
Short interest 15% (high)
Company Profile
Hovnanian Enterprises, Inc. is a homebuilding company, which engages in the design, construct, market, and sell single-family attached town homes and condominiums, urban infill, and planned residential developments. It operates through the following segments: Homebuilding Operation, Financial Services, and Corporate. The Homebuilding Operation segment consists of the following geographical segments: Northeast, Mid-Atlantic, Midwest, Southeast, Southwest and West. The Financial Services segment offers mortgage loans and title services to the customers of homebuilding operations. The company was founded by Kevork S. Hovnanian in 1959 and is headquartered in Matawan, NJ.
Extremely bullish reversal of the bottom in 2019, but now overbought so expect a small pullback.
The interest rate changes has added new stimulus to the sector.
Demand is outpacing supply as consumers clamber to take advantage of economic conditions.
P/E ratio 26
Short interest 15% (high)
Company Profile
Hovnanian Enterprises, Inc. is a homebuilding company, which engages in the design, construct, market, and sell single-family attached town homes and condominiums, urban infill, and planned residential developments. It operates through the following segments: Homebuilding Operation, Financial Services, and Corporate. The Homebuilding Operation segment consists of the following geographical segments: Northeast, Mid-Atlantic, Midwest, Southeast, Southwest and West. The Financial Services segment offers mortgage loans and title services to the customers of homebuilding operations. The company was founded by Kevork S. Hovnanian in 1959 and is headquartered in Matawan, NJ.