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Hovnanian (HOV) Shows Strength: Stock Moves 6.1% Higher

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Hovnanian Enterprises Inc. (HOV - Free Report) was a big mover last session, as the company saw its shares rise over 6% on the day. The U.S. Commerce Department reported strong growth in last month’s single-family home sales. The news led to far more shares changing hands than in a normal session resulting in solid volume. This breaks the recent trend for the company since Apr 28, as the stock is now trading above the volatile price range of $1.54 to $1.70.

None of the estimates for this stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Hovnanian currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

A better-ranked stock in the construction sector is CONSORCIO ARA (CNRFF - Free Report) , carrying a Zacks Rank #2 (Buy).

Is HOV going up? Or down? Predict to see what others think: Up or Down

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