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

NVR (NYSE:NVR) had its price target reduced by investment analysts at Truist Financial from $6,600.00 to $6,400.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the construction company’s stock. Truist Financial’s price target indicates a potential downside of 0.39% from the company’s current price.

A number of other brokerages have also recently issued reports on NVR. Seaport Research Partners reaffirmed a “sell” rating and issued a $5,664.00 price objective on shares of NVR in a research note on Tuesday, April 7th. Wall Street Zen upgraded shares of NVR from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Bank of America lowered their price target on shares of NVR from $7,600.00 to $7,200.00 and set a “buy” rating for the company in a research note on Monday, July 20th. BTIG Research set a $7,446.00 price target on shares of NVR in a research report on Friday. Finally, Weiss Ratings cut NVR from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7,224.20.

NVR Stock Up 4.4%

Shares of NVR opened at $6,425.36 on Friday. The firm has a market cap of $17.35 billion, a P/E ratio of 16.66, a P/E/G ratio of 16.46 and a beta of 0.90. The stock has a 50 day simple moving average of $6,370.66 and a two-hundred day simple moving average of $6,786.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.19 and a quick ratio of 2.67. NVR has a 1 year low of $5,501.01 and a 1 year high of $8,618.28.

NVR (NYSE:NVR) last issued its quarterly earnings results on Thursday, July 23rd. The construction company reported $83.96 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $83.06. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.40 billion. NVR had a net margin of 12.26% and a return on equity of 30.23%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $108.54 earnings per share. On average, analysts forecast that NVR will post 371.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of NVR by 68.9% in the fourth quarter. Brighton Jones LLC now owns 76 shares of the construction company’s stock valued at $622,000 after acquiring an additional 31 shares during the period. Woodline Partners LP raised its stake in shares of NVR by 28.4% during the first quarter. Woodline Partners LP now owns 253 shares of the construction company’s stock valued at $1,833,000 after acquiring an additional 56 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of NVR by 100.0% during the second quarter. EverSource Wealth Advisors LLC now owns 10 shares of the construction company’s stock worth $75,000 after purchasing an additional 5 shares during the period. Cerity Partners LLC boosted its holdings in shares of NVR by 7.9% during the second quarter. Cerity Partners LLC now owns 409 shares of the construction company’s stock worth $3,021,000 after purchasing an additional 30 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of NVR by 3.7% in the second quarter. Daiwa Securities Group Inc. now owns 449 shares of the construction company’s stock worth $3,316,000 after purchasing an additional 16 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

NVR News Roundup

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.