NVR, Inc. (NVR) Stock Rating Upgraded by Zacks Investment Research
NVR, Inc. (NYSE:NVR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $2,726.00 target price on the construction company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.48% from the company’s current price.
According to Zacks, “NVR’s shares outperformed the Zacks categorized Building-Residential/Commercial industry in the last one year. NVR is poised to gain traction in 2017 on the current positive housing scenario. Unlike other homebuilders, NVR’s sole business is selling and building quality homes by typically acquiring finished building lots, without the risk of owning and developing land in a cyclical industry. Even considering the recent movement in mortgage rates, affordability is at high levels. NVR’s disciplined business model and focus on maximizing liquidity and minimizing risk are likely to generate more returns for shareholders. However, we believe the company’s margins will remain subdued throughout 2017 as its end markets are not likely to experience significant pricing power to offset cost inflation.”
NVR has been the topic of several other research reports. Bank of America Corporation reaffirmed a “buy” rating and issued a $2,690.00 price target (up previously from $2,485.00) on shares of NVR in a report on Wednesday. ValuEngine raised NVR from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Finally, Zelman & Associates cut NVR from a “buy” rating to a “hold” rating in a report on Friday, May 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. NVR presently has an average rating of “Hold” and a consensus target price of $2,708.00.
NVR (NYSE NVR) traded up 0.45% on Wednesday, reaching $2445.18. The company had a trading volume of 18,482 shares. The stock’s 50-day moving average price is $2,300.23 and its 200-day moving average price is $1,995.62. The stock has a market capitalization of $9.16 billion, a P/E ratio of 21.63 and a beta of 0.67. NVR has a 12-month low of $1,478.04 and a 12-month high of $2,499.99.
NVR (NYSE:NVR) last issued its quarterly earnings data on Thursday, April 20th. The construction company reported $25.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $21.03 by $4.09. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.32 billion. NVR had a return on equity of 34.48% and a net margin of 7.90%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $15.79 EPS. On average, equities research analysts anticipate that NVR will post $129.86 EPS for the current fiscal year.
In other news, Director William Grady Rosier sold 500 shares of the stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $2,130.00, for a total transaction of $1,065,000.00. Following the transaction, the director now directly owns 1,212 shares in the company, valued at approximately $2,581,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan Williamson Ross acquired 30 shares of NVR stock in a transaction dated Wednesday, May 17th. The shares were purchased at an average price of $2,253.43 per share, for a total transaction of $67,602.90. Following the completion of the transaction, the director now directly owns 30 shares in the company, valued at approximately $67,602.90. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 18,257 shares of company stock worth $39,023,767. Insiders own 11.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in NVR. Huntington National Bank raised its position in shares of NVR by 1,325.0% in the first quarter. Huntington National Bank now owns 57 shares of the construction company’s stock valued at $120,000 after buying an additional 53 shares during the period. Acrospire Investment Management LLC purchased a new position in shares of NVR during the first quarter valued at approximately $124,000. PNC Financial Services Group Inc. raised its position in shares of NVR by 14.8% in the first quarter. PNC Financial Services Group Inc. now owns 70 shares of the construction company’s stock valued at $148,000 after buying an additional 9 shares during the period. James Investment Research Inc. purchased a new position in shares of NVR during the first quarter valued at approximately $158,000. Finally, IMS Capital Management purchased a new position in shares of NVR during the first quarter valued at approximately $209,000. Hedge funds and other institutional investors own 78.76% of the company’s stock.
NVR, Inc is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings. The Company’s segments are Homebuilding Mid Atlantic, Homebuilding North East, Homebuilding Mid East, Homebuilding South East and Mortgage Banking. Its Homebuilding Mid Atlantic segment operates in various geographic regions, which include Maryland, Virginia, West Virginia, Delaware and Washington, District of Columbia (DC).
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