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Hovnanian Enterprises Inc. Message Board

  • mostvaluedplayer mostvaluedplayer Jan 2, 2013 9:57 PM Flag

    Buy rating at this price by Zacks.

    On October 29th Zack's had a positive consensus to BUY HOV at 6.91. Hmmm, now some UBS analyst says HOV is a down grade from a buy based on...... his feeling- "the Company is now fairly valued." Guess he wants his buddies in on the cheap. Hello SEC!!!!!

    Sentiment: Buy

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    • Could it be that the company just isn't worth $7? Consider that usually when a homebuilder owes more than its land and other assets are worth, they are bankrupt. We however live in the land of Ben Bernanke, where junk bond interest rates are so low that a builder with negative net worth can keep operating and squeak by enough to make payments on the debt. In most historical financing environments, Hovnanian would be bankrupt. I could be missing something, but from what i can tell, there is very little future for the company. It could build and build for years in hopes of maybe paying down some of the debt. But thats about it. It is a zombie company. It could have 10 years of profits and at the end of it they would still owe what they own. So whats the point?

 
HOV
4.50-0.05(-1.10%)Apr 15 4:05 PMEDT

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