NVR (NYSE:NVR) Given New $9,000.00 Price Target at Bank of America

Key Points

• Bank of America has reduced NVR's price target from $9,100 to $9,000, while maintaining a "buy" rating, suggesting an upside potential of 18.56% from the stock's previous close.
• In recent analyses, the consensus rating for NVR is "Hold," with a target price averaging at $8,250, indicating mixed sentiment among analysts.
• NVR reported a quarterly earnings per share of $108.54, exceeding expectations, despite a slight revenue decline of 0.5% compared to the same quarter last year.

NVR (NYSE:NVR - Get Free Report) had its price target dropped by analysts at Bank of America from $9,100.00 to $9,000.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Bank of America's price objective would suggest a potential upside of 18.56% from the stock's previous close.

A number of other brokerages also recently weighed in on NVR. Wall Street Zen raised shares of NVR from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a "hold (c+)" rating on shares of NVR in a research note on Wednesday. UBS Group increased their target price on shares of NVR from $7,900.00 to $8,150.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of NVR from $7,200.00 to $7,600.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, NVR currently has a consensus rating of "Hold" and a consensus target price of $8,250.00.

NVR Price Performance

Shares of NVR stock traded down $28.41 on Friday, reaching $7,590.83. 4,270 shares of the stock were exchanged, compared to its average volume of 22,062. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.97 and a current ratio of 5.79. NVR has a one year low of $6,562.85 and a one year high of $9,964.77. The firm has a market cap of $21.79 billion, a PE ratio of 15.99, a P/E/G ratio of 10.78 and a beta of 0.94. The firm's 50 day moving average is $8,095.28 and its 200-day moving average is $7,560.23.

NVR (NYSE:NVR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $108.54 EPS for the quarter, beating analysts' consensus estimates of $104.89 by $3.65. The company had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.46 billion. NVR had a return on equity of 37.35% and a net margin of 14.68%.NVR's revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $120.69 EPS. As a group, analysts anticipate that NVR will post 505.2 EPS for the current fiscal year.

Insider Activity at NVR

In related news, Director Alexandra A. Jung sold 200 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $8,082.44, for a total transaction of $1,616,488.00. Following the completion of the sale, the director owned 75 shares of the company's stock, valued at $606,183. This trade represents a 72.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew B. Kelpy sold 600 shares of NVR stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $8,100.00, for a total value of $4,860,000.00. Following the completion of the sale, the chief accounting officer directly owned 208 shares of the company's stock, valued at approximately $1,684,800. The trade was a 74.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 975 shares of company stock valued at $7,869,360 in the last 90 days. Corporate insiders own 7.00% of the company's stock.

Institutional Trading of NVR

Several large investors have recently modified their holdings of the company. AdvisorNet Financial Inc grew its stake in shares of NVR by 200.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 12 shares of the construction company's stock valued at $96,000 after purchasing an additional 8 shares during the period. Amiral Gestion boosted its stake in NVR by 71.7% in the 3rd quarter. Amiral Gestion now owns 1,978 shares of the construction company's stock worth $15,893,000 after purchasing an additional 826 shares during the period. Bennett Selby Investments LP boosted its holdings in shares of NVR by 2.7% during the 3rd quarter. Bennett Selby Investments LP now owns 153 shares of the construction company's stock valued at $1,229,000 after purchasing an additional 4 shares during the last quarter. Czech National Bank boosted its stake in NVR by 1.4% during the third quarter. Czech National Bank now owns 731 shares of the construction company's stock valued at $5,873,000 after buying an additional 10 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of NVR by 107.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 7,487 shares of the construction company's stock valued at $60,155,000 after acquiring an additional 3,871 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

About NVR

NVR, Inc operates as a homebuilder in the United States. The company operates through, Homebuilding and Mortgage Banking segments. It engages in the construction and sale of single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names. The company markets its Ryan Homes products to first-time and first-time move-up buyers; and NVHomes and Heartland Homes products to move-up and luxury buyers.

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