JPMorgan Chase & Co. Issues Pessimistic Forecast for NVR (NYSE:NVR) Stock Price

NVR (NYSE:NVR - Free Report) had its target price cut by JPMorgan Chase & Co. from $9,820.00 to $9,245.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the construction company's stock.

A number of other analysts also recently issued reports on NVR. Seaport Res Ptn downgraded shares of NVR from a "strong-buy" rating to a "hold" rating in a report on Sunday, November 10th. UBS Group raised their target price on NVR from $8,450.00 to $9,450.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Bank of America cut their price target on shares of NVR from $10,800.00 to $10,600.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com cut shares of NVR from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, NVR has a consensus rating of "Hold" and a consensus target price of $9,765.00.

NVR Stock Down 2.3 %

NVR stock traded down $202.54 during mid-day trading on Friday, reaching $8,594.06. 23,868 shares of the company traded hands, compared to its average volume of 19,435. The stock has a market cap of $26.30 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.90 and a beta of 1.18. The company has a quick ratio of 3.54, a current ratio of 6.21 and a debt-to-equity ratio of 0.21. NVR has a fifty-two week low of $6,768.02 and a fifty-two week high of $9,964.77. The firm's 50 day moving average price is $9,268.62 and its 200 day moving average price is $8,730.59.

NVR (NYSE:NVR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $130.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $131.00 by ($0.50). The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.71 billion. NVR had a return on equity of 38.20% and a net margin of 16.51%. The company's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $125.26 earnings per share. As a group, equities research analysts predict that NVR will post 494.48 EPS for the current fiscal year.

NVR declared that its Board of Directors has approved a share buyback program on Wednesday, December 11th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, CAO Matthew B. Kelpy sold 400 shares of NVR stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $9,450.00, for a total value of $3,780,000.00. Following the transaction, the chief accounting officer now owns 208 shares in the company, valued at approximately $1,965,600. The trade was a 65.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Preiser sold 250 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $9,302.64, for a total value of $2,325,660.00. Following the transaction, the director now owns 239 shares in the company, valued at approximately $2,223,330.96. The trade was a 51.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 775 shares of company stock worth $7,294,073. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVR

A number of hedge funds and other institutional investors have recently made changes to their positions in NVR. Massmutual Trust Co. FSB ADV raised its holdings in NVR by 100.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 4 shares of the construction company's stock worth $39,000 after purchasing an additional 2 shares in the last quarter. Blue Trust Inc. purchased a new position in shares of NVR during the third quarter valued at about $39,000. Rakuten Securities Inc. bought a new position in NVR in the third quarter worth about $39,000. Redwood Wealth Management Group LLC purchased a new stake in NVR in the second quarter worth about $46,000. Finally, Private Trust Co. NA lifted its holdings in NVR by 66.7% in the third quarter. Private Trust Co. NA now owns 5 shares of the construction company's stock worth $49,000 after buying an additional 2 shares during the period. Institutional investors own 83.67% of the company's stock.

NVR Company Profile

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.