Bank of America Has Lowered Expectations for NVR (NYSE:NVR) Stock Price

NVR (NYSE:NVR) had its price target decreased by Bank of America from $7,600.00 to $7,200.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Bank of America‘s target price indicates a potential upside of 13.58% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Zelman & Associates upgraded shares of NVR from a “hold” rating to a “buy” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded NVR from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded NVR from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Seaport Research Partners reaffirmed a “sell” rating and set a $5,664.00 price objective on shares of NVR in a research report on Tuesday, April 7th. Finally, BTIG Research reiterated a “buy” rating and issued a $8,096.00 target price on shares of NVR in a research note on Wednesday, April 22nd. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7,478.50.

NVR Stock Down 1.7%

Shares of NYSE:NVR opened at $6,339.04 on Monday. The stock has a market cap of $17.12 billion, a P/E ratio of 15.45, a P/E/G ratio of 4.80 and a beta of 0.90. The firm has a fifty day moving average price of $6,330.51 and a 200 day moving average price of $6,803.80. 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 data on Wednesday, April 22nd. The construction company reported $67.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $79.97 by ($12.21). The business 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 company’s revenue for the quarter was down 21.7% on a year-over-year basis. During the same period in the previous year, the business posted $94.83 earnings per share. Sell-side analysts predict that NVR will post 371.11 EPS for the current year.

Insider Activity

In other NVR news, Director Michael J. Devito bought 11 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was acquired at an average cost of $6,699.50 per share, with a total value of $73,694.50. Following the purchase, the director owned 25 shares in the company, valued at approximately $167,487.50. This represents a 78.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Wedge Capital Management L L P NC raised its position in NVR by 27.5% in the second quarter. Wedge Capital Management L L P NC now owns 1,498 shares of the construction company’s stock worth $10,206,000 after acquiring an additional 323 shares in the last quarter. Tema ETFs LLC lifted its holdings in NVR by 38.1% in the second quarter. Tema ETFs LLC now owns 58 shares of the construction company’s stock valued at $395,000 after acquiring an additional 16 shares during the period. Handelsbanken Fonder AB boosted its position in shares of NVR by 65.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 1,921 shares of the construction company’s stock worth $13,089,000 after purchasing an additional 763 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its position in shares of NVR by 1.0% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 203 shares of the construction company’s stock worth $1,383,000 after purchasing an additional 2 shares in the last quarter. Finally, Everhart Financial Group Inc. grew its stake in shares of NVR by 31.0% during the 2nd quarter. Everhart Financial Group Inc. now owns 76 shares of the construction company’s stock worth $518,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

NVR Company Profile

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.