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

NVR (NYSE:NVR) had its target price cut by Bank of America from $7,600.00 to $7,200.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other analysts have also issued reports on the stock. UBS Group decreased their target price on shares of NVR from $8,100.00 to $7,700.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. BTIG Research reaffirmed a “buy” rating and issued a $8,096.00 target price on shares of NVR in a research note on Wednesday, April 22nd. Zelman & Associates upgraded NVR from a “hold” rating to a “buy” rating in a report on Tuesday, July 7th. Seaport Research Partners reissued a “sell” rating and set a $5,664.00 price target on shares of NVR in a research note on Tuesday, April 7th. Finally, Wall Street Zen upgraded NVR from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, NVR currently has a consensus rating of “Hold” and a consensus target price of $7,478.50.

NVR Price Performance

NYSE:NVR opened at $6,455.14 on Monday. NVR has a 12-month low of $5,501.01 and a 12-month high of $8,618.28. The firm has a market cap of $17.43 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 4.81 and a beta of 0.90. The company’s 50-day moving average is $6,319.68 and its two-hundred day moving average is $6,810.56. The company has a current ratio of 5.19, a quick ratio of 2.67 and a debt-to-equity ratio of 0.26.

NVR (NYSE:NVR) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $67.76 EPS for the quarter, missing analysts’ consensus estimates 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%.The business’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same quarter last year, the firm earned $94.83 earnings per share. Research analysts expect that NVR will post 372.53 EPS for the current year.

Insider Activity at NVR

In related news, Director Michael J. Devito acquired 11 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was bought at an average price of $6,699.50 per share, with a total value of $73,694.50. Following the purchase, the director directly owned 25 shares in the company, valued at $167,487.50. The trade was a 78.57% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NVR

A number of institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its holdings in NVR by 2.4% during the third quarter. Quadrant Capital Group LLC now owns 87 shares of the construction company’s stock valued at $699,000 after acquiring an additional 2 shares during the period. Vise Technologies Inc. increased its stake in shares of NVR by 0.8% in the third quarter. Vise Technologies Inc. now owns 239 shares of the construction company’s stock worth $1,920,000 after purchasing an additional 2 shares during the period. Laird Norton Wetherby Wealth Management LLC increased its stake in shares of NVR by 1.5% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 139 shares of the construction company’s stock worth $1,117,000 after purchasing an additional 2 shares during the period. Castleview Partners LLC increased its stake in shares of NVR by 2.8% in the fourth quarter. Castleview Partners LLC now owns 74 shares of the construction company’s stock worth $540,000 after purchasing an additional 2 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of NVR by 0.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 425 shares of the construction company’s stock worth $3,099,000 after purchasing an additional 2 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

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.