An issue of Hovnanian Enterprises (NYSE:HOV) debt fell 1.3% as a percentage of its face value during trading on Tuesday, AmericanBankingNews.com
reports. The high-yield issue of debt has a 7.25% coupon and will
mature on October 15, 2020. The debt is now trading at $101.75 and was
trading at $102.88 last week. Price changes in a company’s debt in
credit markets sometimes anticipate parallel changes in its share price.
A number of analysts have recently weighed in on HOV shares. Analysts at JMP Securities downgraded shares of Hovnanian Enterprises from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $4.00 to $3.00 in a research note on Tuesday, January 20th.
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A number of analysts have recently weighed in on HOV shares. Analysts at JMP Securities downgraded shares of Hovnanian Enterprises from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $4.00 to $3.00 in a research note on Tuesday, January 20th.
Read More at Click Here / www.trade4x.net
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