This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

6 Strong Buys Breaking Near 52-Week Highs

HOV Chart HOV data by YCharts

Hovnanian Enterprise (HOV - Get Report)

Background: Hovnanian Enterprises designs, constructs, markets and sells residential homes in the U.S. It constructs single-family attached and detached homes, attached townhomes and condominiums, and urban infill and active adult homes. Founded in 1959, it is headquartered in Red Bank, N.J. Hovnanian Enterprise trades an average of 6 million shares per day with a market cap of $493 million.

52-Week High: $4.03

In the last month, the stock has really moved higher with a 20.3% increase. Cheap stocks can have impressive moves percentage-wise, but any stock under $5 is typically a bankruptcy candidate.

Taken as a whole, the analysts are not bestowing much in terms of market direction. Five out of 11 rate Hovnanian a hold. One recommends this company as a buy, and five recommend selling. The stock appreciated 257% during the last year, and the average analyst target price for Hovnanian is $2.82.

TheStreet's Brian Sozzi writes about The Day Ahead: Mail George Bush a Thank-You Note

Hovnanian is in a bull trend, and looks ready to break higher. The moving averages are moving higher, and shareholders should be happy (at least the relatively newer ones). Hovnanian is almost a bet on the Fed. If the billions of dollars keep flowing, housing should, in theory, pick up. The dollar may be worth less than a roll of Charmin, and a six-pack of beer may cost $50, but your mortgage will likely no longer be underwater.

The short interest is not small for sure. When more than one out of every four shares available to trade is short, short-sellers are smelling blood. The current float short is 26.9%.

If you believe QE3 is going to work, Hovnanian could pay off handsomely. After all, it traded for over $35 a share as recently as 2007. If you do want to gain exposure here, look for an entry near $3.45.
4 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
JNJ $112.75 0.60%
HOV $1.69 1.20%
NWL $47.18 3.60%
SNV $31.31 0.48%
RF $9.45 0.75%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs