Truist Financial Lowers NVR (NYSE:NVR) Price Target to $6,400.00

NVR (NYSE:NVR) had its price target decreased by equities research analysts at Truist Financial from $6,600.00 to $6,400.00 in a report released on Friday,Benzinga reports. The firm presently has a “hold” rating on the construction company’s stock. Truist Financial’s price objective suggests a potential downside of 0.38% from the stock’s previous close.

A number of other brokerages also recently weighed in on NVR. Wall Street Zen upgraded NVR from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Bank of America reduced their price objective on NVR from $7,600.00 to $7,200.00 and set a “buy” rating on the stock in a research note on Monday. Zelman & Associates upgraded shares of NVR from a “hold” rating to a “buy” rating in a research note on Tuesday, July 7th. UBS Group set a $7,400.00 target price on shares of NVR in a report on Friday. Finally, Weiss Ratings downgraded shares of NVR from a “hold (c)” rating to a “sell (d+)” rating in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7,224.20.

NVR Stock Up 4.4%

Shares of NVR stock traded up $269.13 during trading hours on Friday, hitting $6,424.15. 17,018 shares of the company were exchanged, compared to its average volume of 27,986. The stock has a market capitalization of $17.34 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 16.29 and a beta of 0.90. NVR has a one year low of $5,501.01 and a one year high of $8,618.28. The business’s 50-day simple moving average is $6,353.15 and its two-hundred day simple moving average is $6,789.46. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.67 and a current ratio of 5.19.

NVR (NYSE:NVR) last announced 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. NVR had a return on equity of 32.66% and a net margin of 12.93%.The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company earned $108.54 earnings per share. NVR’s quarterly revenue was down 10.5% on a year-over-year basis. Sell-side analysts predict that NVR will post 371.11 EPS for the current fiscal year.

Institutional Investors Weigh In On NVR

A number of hedge funds have recently added to or reduced their stakes in NVR. Wedge Capital Management L L P NC boosted its holdings in shares of NVR by 27.5% during the second quarter. Wedge Capital Management L L P NC now owns 1,498 shares of the construction company’s stock valued at $10,206,000 after acquiring an additional 323 shares during the period. Tema ETFs LLC increased its holdings in shares of NVR by 38.1% in the 2nd quarter. Tema ETFs LLC now owns 58 shares of the construction company’s stock worth $395,000 after acquiring an additional 16 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of NVR by 65.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,921 shares of the construction company’s stock worth $13,089,000 after acquiring an additional 763 shares during the period. Wealthcare Advisory Partners LLC lifted its position in NVR by 1.0% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 203 shares of the construction company’s stock valued at $1,383,000 after purchasing an additional 2 shares during the last quarter. Finally, Everhart Financial Group Inc. lifted its position in NVR by 31.0% in the 2nd quarter. Everhart Financial Group Inc. now owns 76 shares of the construction company’s stock valued at $518,000 after purchasing an additional 18 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

NVR News Roundup

Here are the key news stories impacting NVR this week:

• Negative Sentiment: Second-quarter earnings and revenue came in below Wall Street expectations, signaling that NVR’s growth is slowing and that the housing market remains challenging. NVR Q2 Earnings Miss Estimates on Margin Pressure, Stock Down
• Negative Sentiment: Homebuilding margins narrowed as higher lot costs, pricing pressure, and contract land deposit impairments weighed on profitability, which is a key concern for investors watching earnings quality. NVR Falls After Q2 Profit, Revenue and Margins Decline

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.