NVR (NYSE:NVR) Given New $7,200.00 Price Target at Bank of America

NVR (NYSE:NVR) had its price target lowered by investment analysts at Bank of America from $7,600.00 to $7,200.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America‘s price objective would suggest a potential upside of 12.60% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Wall Street Zen raised NVR from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. UBS Group dropped their price objective on NVR from $8,100.00 to $7,700.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. BTIG Research reissued a “buy” rating and set a $8,096.00 target price on shares of NVR in a research report on Wednesday, April 22nd. Zelman & Associates upgraded NVR from a “hold” rating to a “buy” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings downgraded NVR from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7,478.50.

NVR Stock Down 1.5%

NYSE NVR traded down $95.90 on Monday, hitting $6,394.14. 13,086 shares of the stock were exchanged, compared to its average volume of 27,681. The company has a quick ratio of 2.67, a current ratio of 5.19 and a debt-to-equity ratio of 0.26. NVR has a fifty-two week low of $5,501.01 and a fifty-two week high of $8,618.28. The company has a market cap of $17.26 billion, a PE ratio of 15.63, a PEG ratio of 4.81 and a beta of 0.90. The company has a 50-day moving average price of $6,308.72 and a 200-day moving average price of $6,816.72.

NVR (NYSE:NVR) last released its quarterly earnings data 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). The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $2.09 billion. NVR had a return on equity of 32.66% and a net margin of 12.93%.NVR’s revenue for the quarter was down 21.7% on a year-over-year basis. During the same period last year, the firm posted $94.83 earnings per share. Sell-side analysts anticipate that NVR will post 372.53 EPS for the current fiscal year.

Insider Buying and Selling at NVR

In other news, Director Michael J. Devito acquired 11 shares of the firm’s stock in a transaction dated Friday, April 24th. The stock was acquired at an average cost of $6,699.50 per share, with a total value of $73,694.50. Following the completion of the acquisition, the director owned 25 shares of the company’s stock, valued at $167,487.50. The trade was a 78.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On NVR

Institutional investors have recently modified their holdings of the business. Wedge Capital Management L L P NC boosted its stake in NVR by 27.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 1,498 shares of the construction company’s stock worth $10,206,000 after purchasing an additional 323 shares during the period. Tema ETFs LLC increased its stake in NVR by 38.1% in the second quarter. Tema ETFs LLC now owns 58 shares of the construction company’s stock valued at $395,000 after purchasing an additional 16 shares during the period. Handelsbanken Fonder AB increased its stake in NVR by 65.9% in the second quarter. Handelsbanken Fonder AB now owns 1,921 shares of the construction company’s stock valued at $13,089,000 after purchasing an additional 763 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of NVR by 1.0% in the second quarter. Wealthcare Advisory Partners LLC now owns 203 shares of the construction company’s stock valued at $1,383,000 after buying an additional 2 shares during the last quarter. Finally, Everhart Financial Group Inc. raised its holdings in shares of NVR by 31.0% in the second quarter. Everhart Financial Group Inc. now owns 76 shares of the construction company’s stock valued at $518,000 after buying an additional 18 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

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.