Truist Financial Cuts NVR (NYSE:NVR) Price Target to $6,400.00

NVR (NYSE:NVR) had its price target decreased by Truist Financial from $6,600.00 to $6,400.00 in a research report sent to investors on Friday,Benzinga reports. Truist Financial currently has a hold rating on the construction company’s stock.

A number of other analysts have also recently commented on NVR. UBS Group set a $7,400.00 price objective on NVR in a research report on Friday. Seaport Research Partners reissued a “sell” rating and issued a $5,664.00 target price on shares of NVR in a research report on Tuesday, April 7th. Weiss Ratings cut shares of NVR from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Zelman & Associates upgraded shares of NVR from a “hold” rating to a “buy” rating in a research note on Tuesday, July 7th. Finally, Bank of America dropped their price objective on shares of NVR from $7,600.00 to $7,200.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, NVR currently has an average rating of “Hold” and a consensus price target of $7,224.20.

NVR Price Performance

Shares of NVR opened at $6,425.36 on Friday. The firm has a fifty day simple moving average of $6,370.66 and a two-hundred day simple moving average of $6,783.16. The firm has a market cap of $17.35 billion, a PE ratio of 16.66, a P/E/G ratio of 16.46 and a beta of 0.90. The company has a current ratio of 5.28, a quick ratio of 2.24 and a debt-to-equity ratio of 0.27. NVR has a 1-year low of $5,501.01 and a 1-year high of $8,618.28.

NVR (NYSE:NVR) last released its quarterly earnings results on Thursday, July 23rd. The construction company reported $83.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $83.06. NVR had a return on equity of 31.02% and a net margin of 12.26%.The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the business posted $108.54 EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities analysts anticipate that NVR will post 371.11 EPS for the current year.

Hedge Funds Weigh In On NVR

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

Key Stories Impacting NVR

Here are the key news stories impacting NVR this week:

• Negative Sentiment: NVR’s second-quarter results missed expectations on revenue and earnings, with EPS falling to $83.96 from $108.54 a year ago and revenue dropping about 10% as fewer settlements and lower pricing weighed on results. NVR, INC. ANNOUNCES SECOND QUARTER RESULTS
• Negative Sentiment: Homebuilding margin pressure was a key concern, with higher lot costs, pricing pressure, and contract land deposit impairments cutting profitability despite improved orders and backlog growth. NVR Q2 Earnings Miss Estimates on Margin Pressure, Stock Down
• Negative Sentiment: Truist Financial lowered its price target on NVR to $6,400 from $6,600 and kept a hold rating, signaling more cautious expectations for the shares. Benzinga
• Negative Sentiment: Zacks Research downgraded NVR to “strong sell” and trimmed several future earnings estimates, reinforcing concerns that near-term earnings momentum may stay weak. Zacks.com

About NVR

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.