Hovnanian Enterprises Inc. (HOV) Rebuilds Their Capital Base
Hovnanian Enterprises (HOV:NYSE) is a New Jersey homebuilder founded in 1959 by the Hovnanian family. The company designs, constructs, and sells single-family detached homes, attached townhomes and condos, along with active adult homes and other types of condos. The company offers homes for sale in 431 communities, 47 markets, and 19 states in the United States. Hovnanian, like most of the other homebuilders, has been at the epicenter of the current economic slowdown. Despite numerous interest rate cuts and other measures by the Federal Reserve, homebuilders like Hovnanian remain in the doldrums. Their latest earnings report, released on May 5th,…