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Is Hovnanian Near the Ceiling?
By Stephen D. Simpson, CFA
September 9, 2005

Usually, finding a stock with a low P/E is an indication that investors don't expect a whole lot from the company in question. Yet even though Hovnanian (NYSE: HOV) missed estimates by only a small amount and lowered future guidance fairly modestly, the Street responded by taking down the shares of this homebuilder by about 7%...
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