NVR, Inc. (NVR) Receives “Buy” Rating from Bank of America Corporation
NVR, Inc. (NYSE:NVR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Bank of America Corporation in a research note issued to investors on Wednesday. They currently have a $2,690.00 price objective on the construction company’s stock, up from their prior price objective of $2,485.00. Bank of America Corporation’s target price suggests a potential upside of 11.59% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of NVR from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. ValuEngine raised shares of NVR from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. Finally, Zelman & Associates downgraded shares of NVR from a “buy” rating to a “hold” rating in a research 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 assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $2,708.00.
NVR (NYSE:NVR) traded up 3.02% during trading on Wednesday, reaching $2410.61. 32,563 shares of the company’s stock traded hands. The company has a market cap of $9.03 billion, a P/E ratio of 21.33 and a beta of 0.67. The firm’s 50 day moving average is $2,355.52 and its 200 day moving average is $2,031.19. NVR has a 12 month low of $1,478.04 and a 12 month high of $2,510.76.
NVR (NYSE:NVR) last posted its earnings results on Thursday, April 20th. The construction company reported $25.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $21.03 by $4.09. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.32 billion. NVR had a net margin of 7.90% and a return on equity of 34.48%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $15.79 earnings per share. Analysts anticipate that NVR will post $129.86 EPS for the current year.
In other news, Director Charles Elliott Andrews sold 1,764 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $2,103.21, for a total transaction of $3,710,062.44. Following the completion of the sale, the director now owns 2,902 shares of the company’s stock, valued at $6,103,515.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan Williamson Ross acquired 30 shares of the stock in a transaction dated Wednesday, May 17th. The shares were bought at an average cost of $2,253.43 per share, with a total value of $67,602.90. Following the transaction, the director now directly owns 30 shares of the company’s stock, valued at $67,602.90. The disclosure for this purchase can be found here. Insiders have sold 18,257 shares of company stock valued at $39,023,767 in the last three months. 11.30% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Huntington National Bank increased its position in NVR by 1,325.0% in the first quarter. Huntington National Bank now owns 57 shares of the construction company’s stock worth $120,000 after buying an additional 53 shares during the period. Acrospire Investment Management LLC acquired a new position in NVR during the first quarter worth $124,000. PNC Financial Services Group Inc. increased its position in NVR by 14.8% in the first quarter. PNC Financial Services Group Inc. now owns 70 shares of the construction company’s stock worth $148,000 after buying an additional 9 shares during the period. James Investment Research Inc. acquired a new position in NVR during the first quarter worth $158,000. Finally, IMS Capital Management acquired a new position in NVR during the first quarter worth $209,000. 78.76% of the stock is owned by institutional investors.
NVR Company Profile
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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