Earlier this month, the Red Bank, N.J. company reported a profit for its fiscal third quarter, reversing a prior-year loss. The company's contracts for new homes rose 19 percent to 1,541 homes, while completed sales grew 25 percent to 1,387 homes.
Hovnanian shares added 11 cents, or 2.9 percent, to $3.90 in afternoon trading, near the top of its 52-week range of 89 cents to $4.03.
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