NVR (NYSE:NVR) Price Target Cut to $8,225.00 by Analysts at Bank of America
by Danessa Lincoln · The Markets DailyNVR (NYSE:NVR – Get Free Report) had its price objective cut by research analysts at Bank of America from $8,600.00 to $8,225.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Bank of America‘s target price points to a potential upside of 16.30% from the company’s current price.
A number of other equities analysts also recently weighed in on the stock. Truist Financial decreased their target price on shares of NVR from $7,700.00 to $7,100.00 and set a “hold” rating for the company in a research note on Thursday. UBS Group set a $8,100.00 price target on shares of NVR in a research report on Friday, February 13th. Wall Street Zen raised shares of NVR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of NVR in a research report on Thursday, January 22nd. Finally, Seaport Research Partners reissued a “sell” rating and set a $5,664.00 price target on shares of NVR in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7,953.67.
View Our Latest Analysis on NVR
NVR Stock Up 1.0%
NVR traded up $71.43 on Monday, hitting $7,072.35. The company had a trading volume of 4,602 shares, compared to its average volume of 27,209. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.21 and a quick ratio of 3.71. NVR has a 52-week low of $6,301.02 and a 52-week high of $8,618.28. The stock has a fifty day simple moving average of $6,988.34 and a 200-day simple moving average of $7,323.80. The firm has a market capitalization of $19.65 billion, a P/E ratio of 16.15, a P/E/G ratio of 2.43 and a beta of 1.07.
NVR (NYSE:NVR – Get Free Report) last announced its earnings results on Wednesday, January 28th. The construction company reported $121.54 earnings per share for the quarter, beating analysts’ consensus estimates of $105.42 by $16.12. NVR had a net margin of 13.27% and a return on equity of 34.28%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the firm earned $139.93 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities analysts expect that NVR will post 505.2 EPS for the current fiscal year.
NVR announced that its board has approved a share repurchase program on Wednesday, February 11th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Insider Buying and Selling
In other NVR news, CAO Matthew B. Kelpy sold 500 shares of NVR stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $8,100.00, for a total value of $4,050,000.00. Following the completion of the sale, the chief accounting officer owned 208 shares of the company’s stock, valued at approximately $1,684,800. The trade was a 70.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan Williamson Ross sold 200 shares of NVR stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $7,922.06, for a total transaction of $1,584,412.00. Following the completion of the sale, the director directly owned 386 shares of the company’s stock, valued at approximately $3,057,915.16. This trade represents a 34.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,120 shares of company stock valued at $9,012,736. 8.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. DV Equities LLC purchased a new position in shares of NVR during the 4th quarter worth $29,000. Strive Financial Group LLC purchased a new position in shares of NVR during the 4th quarter worth $29,000. Oakworth Capital Inc. purchased a new position in shares of NVR during the 4th quarter worth $36,000. State of Wyoming purchased a new position in shares of NVR during the 2nd quarter worth $44,000. Finally, USA Financial Formulas boosted its stake in shares of NVR by 75.0% during the 4th quarter. USA Financial Formulas now owns 7 shares of the construction company’s stock worth $51,000 after acquiring an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.
About NVR
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.