NVR (NYSE:NVR) Downgraded by Zacks Research to Strong Sell

Key Points

• Zacks Research downgraded NVR to “strong sell” from “hold,” although analyst opinions remain mixed; MarketBeat reports a consensus “hold” rating and an average price target of $7,160.
• NVR shares opened at $6,357.14, near their 50-day and 200-day moving averages, and remain well below the 12-month high of $8,200.
• The company’s latest quarterly revenue fell 10.5% year over year to $2.34 billion, missing estimates, while analysts project full-year earnings of $367.13 per share.

NVR (NYSE:NVR - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Monday, Zacks reports.

A number of other research analysts have also recently weighed in on NVR. Weiss Ratings raised shares of NVR from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, September 14th. Zelman & Associates raised shares of NVR from a "hold" rating to a "buy" rating in a research report on Tuesday, July 7th. BTIG Research set a $7,125.00 target price on shares of NVR in a research note on Tuesday. UBS Group reduced their target price on shares of NVR from $7,700.00 to $7,400.00 and set a "neutral" rating on the stock in a report on Friday, July 24th. Finally, Bank of America decreased 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 report on Monday, July 20th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $7,160.00.

NVR Stock Performance

Shares of NYSE:NVR opened at $6,357.14 on Monday. The business has a 50-day moving average of $6,323.52 and a two-hundred day moving average of $6,396.19. The firm has a market capitalization of $16.91 billion, a PE ratio of 16.49, a P/E/G ratio of 10.34 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.28 and a quick ratio of 2.24. NVR has a 12 month low of $5,501.01 and a 12 month high of $8,200.00.

NVR (NYSE:NVR - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The construction company reported $83.96 earnings per share for the quarter, beating the consensus estimate of $0.90 by $83.06. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.40 billion. NVR had a return on equity of 31.02% and a net margin of 12.26%.The company's revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $108.54 EPS. As a group, research analysts forecast that NVR will post 367.13 earnings per share for the current year.

Insider Activity

In other NVR news, Director George Oliver purchased 63 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $6,431.51 per share, for a total transaction of $405,185.13. Following the completion of the purchase, the director owned 63 shares in the company, valued at $405,185.13. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On NVR

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of NVR during the 2nd quarter valued at approximately $2,004,324,000. Capital Research Global Investors increased its stake in shares of NVR by 0.4% in the fourth quarter. Capital Research Global Investors now owns 133,554 shares of the construction company's stock worth $973,979,000 after buying an additional 551 shares during the last quarter. State Street Corp increased its stake in shares of NVR by 0.9% in the second quarter. State Street Corp now owns 128,768 shares of the construction company's stock worth $877,348,000 after buying an additional 1,172 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of NVR by 407.5% in the fourth quarter. Corient Private Wealth LLC now owns 45,572 shares of the construction company's stock worth $332,346,000 after buying an additional 36,592 shares during the last quarter. Finally, Norges Bank acquired a new stake in NVR in the fourth quarter valued at $311,496,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

About NVR

NVR, Inc is a homebuilding and mortgage banking company headquartered in Reston, Virginia. Through its homebuilding operations, the company designs, constructs and sells single-family homes, townhomes and condominiums under the Ryan Homes, NVHomes and Heartland Homes brands.

NVR primarily serves homebuyers in the Mid-Atlantic, Midwest and Southeast regions of the United States. Its communities are developed in a range of suburban and urban markets, with homes generally marketed to first-time, move-up and luxury buyers.

Through its mortgage banking operations, NVR provides mortgage loans and related services to many of the customers who purchase its homes.

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