NEW YORK (TheStreet) -- Shares of Hovnanian Enterprises Inc. (HOV) are higher by 6.10% to $4 in late morning trading on Monday, as homebuilder stocks get a boost from Toll Brothers Inc.'s (TOL) preliminary fourth quarter 2014 revenue results, which showed a 29% increase to $1.35 billion over the prior year.
Toll Brothers said that its average price of homes delivered for the most recent quarter was $747,000, compared to $703,000 for the 2013 fourth quarter.
Additionally, homebuilder stocks may also be rising off of positive comments made by TheStreet's Jim Cramer on CNBC's "Squawk on the Street."
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"The mortgage applications are good. The re-fis are better, but I think what's really mattered to this group is people are desperate for something that hasn't gone up. People are looking for something to hold onto, and I think the homebuilders make sense," Cramer said, CNBC.com reports.
Separately, TheStreet Ratings team rates HOVNANIAN ENTRPRS INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation: