Bank of America Cuts NVR (NYSE:NVR) Price Target to $7,200.00

NVR (NYSE:NVR) had its price objective trimmed by Bank of America from $7,600.00 to $7,200.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other research analysts also recently weighed in on the company. Weiss Ratings downgraded NVR from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Seaport Research Partners restated a “sell” rating and issued a $5,664.00 price objective on shares of NVR in a research note on Tuesday, April 7th. Truist Financial dropped their price objective on shares of NVR from $7,100.00 to $6,600.00 and set a “hold” rating on the stock in a report on Thursday, April 23rd. Zelman & Associates upgraded shares of NVR from a “hold” rating to a “buy” rating in a research report on Tuesday, July 7th. Finally, UBS Group reduced their target price on shares of NVR from $8,100.00 to $7,700.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7,478.50.

NVR Price Performance

Shares of NYSE NVR opened at $6,363.37 on Monday. The company has a current ratio of 5.19, a quick ratio of 2.67 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $6,343.46 and a two-hundred day simple moving average of $6,797.21. NVR has a 1-year low of $5,501.01 and a 1-year high of $8,618.28. The firm has a market cap of $17.18 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 16.23 and a beta of 0.90.

NVR (NYSE:NVR) last issued its earnings results on Wednesday, April 22nd. The construction company reported $67.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $79.97 by ($12.21). NVR had a net margin of 12.93% and a return on equity of 32.66%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the firm earned $94.83 earnings per share. The business’s quarterly revenue was down 21.7% compared to the same quarter last year. Analysts anticipate that NVR will post 371.11 earnings per share for the current year.

Insider Activity at NVR

In related news, Director Michael J. Devito purchased 11 shares of NVR stock in a transaction dated Friday, April 24th. The stock was bought at an average cost of $6,699.50 per share, for a total transaction of $73,694.50. Following the completion of the transaction, the director owned 25 shares in the company, valued at $167,487.50. This trade represents a 78.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is owned by insiders.

Institutional Trading of NVR

A number of institutional investors have recently added to or reduced their stakes in the stock. DV Equities LLC bought a new stake in shares of NVR during the fourth quarter valued at about $29,000. Strive Financial Group LLC purchased a new stake in shares of NVR in the fourth quarter worth about $29,000. Oakworth Capital Inc. bought a new position in shares of NVR in the fourth quarter valued at approximately $36,000. State of Wyoming bought a new position in shares of NVR in the second quarter valued at approximately $44,000. Finally, USA Financial Formulas grew its stake in NVR by 75.0% during the fourth quarter. USA Financial Formulas now owns 7 shares of the construction company’s stock valued at $51,000 after acquiring an additional 3 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

NVR Company Profile

NVR, Inc is a U.S.-based homebuilding and mortgage banking company that designs, constructs and sells single-family detached homes, townhomes and condominiums. The company operates primarily through its homebuilding business and a mortgage banking subsidiary, providing financing and related closing services to its homebuyers. NVR’s homebuilding activities include land development, community planning, model home sales and construction management aimed at a range of buyer demographics.

Its homes are marketed under recognizable regional brands, including Ryan Homes and NVHomes, along with other market-specific trade names, and are offered across multiple geographic markets in the United States.