NVR, Inc. (NVR) Downgraded by Zacks Investment Research
NVR, Inc. (NYSE:NVR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “NVR's shares have widely outperformed its industry in the past year. The company's robust performance is largely backed by its disciplined business model and focus on maximizing liquidity and minimizing risk. 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. NVR is also poised to gain traction in 2017 on the current positive housing scenario. Considering the recent movement in mortgage rates, affordability is still at escalated levels.”
Several other equities research analysts also recently issued reports on NVR. ValuEngine raised NVR from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Bank of America Corporation reissued a “buy” rating and issued a $2,690.00 price objective (up from $2,485.00) on shares of NVR in a research note on Wednesday, June 28th. Finally, MKM Partners reissued a “neutral” rating and issued a $2,600.00 price objective (up from $1,900.00) on shares of NVR in a research note on Tuesday, July 25th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $2,672.00.
NVR (NVR) traded down 0.34% on Monday, hitting $2827.95. 9,922 shares of the stock were exchanged. The company has a market cap of $10.59 billion, a PE ratio of 22.37 and a beta of 0.66. NVR has a 52 week low of $1,478.04 and a 52 week high of $2,863.27. The company’s 50-day moving average is $2,721.28 and its 200-day moving average is $2,383.89.
NVR (NYSE:NVR) last announced its quarterly earnings data on Friday, July 21st. The construction company reported $35.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $28.63 by $6.56. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.57 billion. NVR had a return on equity of 37.43% and a net margin of 8.67%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $22.01 EPS. On average, analysts predict that NVR will post $139.24 earnings per share for the current year.
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In other news, Director Eddie Arthur Grier sold 165 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $2,682.26, for a total transaction of $442,572.90. Following the completion of the sale, the director now directly owns 340 shares of the company’s stock, valued at approximately $911,968.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey D. Martchek sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $2,669.90, for a total value of $2,669,900.00. Following the sale, the insider now directly owns 5,323 shares of the company’s stock, valued at $14,211,877.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,240 shares of company stock valued at $11,355,358. Company insiders own 11.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank purchased a new stake in shares of NVR during the 2nd quarter worth about $104,000. US Bancorp DE raised its stake in shares of NVR by 88.0% during the 2nd quarter. US Bancorp DE now owns 47 shares of the construction company’s stock worth $113,000 after purchasing an additional 22 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of NVR by 14.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 70 shares of the construction company’s stock worth $148,000 after purchasing an additional 9 shares in the last quarter. Advisor Group Inc. raised its stake in shares of NVR by 13.9% during the 2nd quarter. Advisor Group Inc. now owns 82 shares of the construction company’s stock worth $197,000 after purchasing an additional 10 shares in the last quarter. Finally, Everett Harris & Co. CA purchased a new stake in shares of NVR during the 2nd quarter worth about $200,000. 79.72% of the stock is owned by institutional investors.
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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