Bank of America Lowers NVR (NYSE:NVR) Price Target to $7,200.00

Key Points

• Bank of America cut its price target on NVR from $7,600 to $7,200 while keeping a buy rating, implying about 12.6% upside from the current share price.
• Analyst opinion on NVR is mixed overall, with a consensus rating of Hold and an average price target of $7,478.50 across several firms that have recently adjusted their views.
• NVR’s latest earnings missed expectations, with EPS of $67.76 versus $79.97 expected and revenue of $1.91 billion below estimates; the stock was also trading near $6,394 after falling on the day.

NVR (NYSE:NVR - Get Free Report) had its target price decreased by stock analysts at Bank of America from $7,600.00 to $7,200.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Bank of America's target price suggests a potential upside of 12.60% from the company's current price.

A number of other brokerages have also commented on NVR. Weiss Ratings lowered 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 target on shares of NVR in a research note on Tuesday, April 7th. Zelman & Associates raised shares of NVR from a "hold" rating to a "buy" rating in a research note on Tuesday, July 7th. UBS Group decreased their target price on shares of NVR from $8,100.00 to $7,700.00 and set a "neutral" rating on the stock in a research report on Thursday, April 23rd. Finally, Wall Street Zen upgraded NVR from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, NVR currently has a consensus rating of "Hold" and a consensus price target of $7,478.50.

NVR Price Performance

NYSE:NVR traded down $95.90 during trading hours on Monday, hitting $6,394.14. 13,086 shares of the stock traded hands, compared to its average volume of 27,681. The company has a market cap of $17.26 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 4.81 and a beta of 0.90. NVR has a 1 year low of $5,501.01 and a 1 year high of $8,618.28. The stock has a 50 day moving average price of $6,308.72 and a 200 day moving average price of $6,816.72. The company has a quick ratio of 2.67, a current ratio of 5.19 and a debt-to-equity ratio of 0.26.

NVR (NYSE:NVR - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The construction company reported $67.76 earnings per share for the quarter, missing the consensus estimate of $79.97 by ($12.21). NVR had a net margin of 12.93% and a return on equity of 32.66%. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same period in the previous year, the business posted $94.83 earnings per share. The business's revenue was down 21.7% on a year-over-year basis. Sell-side analysts forecast that NVR will post 372.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael J. Devito acquired 11 shares of the firm's stock in a transaction dated Friday, April 24th. The stock was purchased at an average price of $6,699.50 per share, for a total transaction of $73,694.50. Following the completion of the acquisition, the director directly owned 25 shares in the company, valued at $167,487.50. The trade was a 78.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 8.60% of the company's stock.

Institutional Trading of NVR

Hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its position in NVR by 2.4% in the 3rd quarter. Quadrant Capital Group LLC now owns 87 shares of the construction company's stock valued at $699,000 after buying an additional 2 shares during the period. Vise Technologies Inc. increased its position in shares of NVR by 0.8% during the third quarter. Vise Technologies Inc. now owns 239 shares of the construction company's stock worth $1,920,000 after acquiring an additional 2 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its stake in shares of NVR by 1.5% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 139 shares of the construction company's stock valued at $1,117,000 after acquiring an additional 2 shares in the last quarter. Castleview Partners LLC boosted its holdings in NVR by 2.8% in the fourth quarter. Castleview Partners LLC now owns 74 shares of the construction company's stock valued at $540,000 after purchasing an additional 2 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in NVR by 0.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 425 shares of the construction company's stock valued at $3,099,000 after purchasing an additional 2 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.