NVR (NYSE:NVR) Downgraded by Bank of America to "Underperform" Bank of America cut shares of NVR (NYSE:NVR - Free Report) from a buy rating to an underperform rating in a research report released on Friday morning, MarketBeat Ratings reports. The firm currently has $5,900.00 target price on the construction company's stock. Several other equities research analysts have also weighed in on the company. Weiss Ratings raised NVR from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday. UBS Group lowered their price target on shares of NVR from $7,700.00 to $7,400.00 and set a "neutral" rating on the stock in a research report on Friday, July 24th. Morgan Stanley assumed coverage on shares of NVR in a research note on Thursday, October 1st. They set an "underweight" rating and a $5,058.00 price target on the stock. Zelman & Associates raised shares of NVR from a "hold" rating to a "buy" rating in a report on Tuesday, July 7th. Finally, Truist Financial reduced their price objective on shares of NVR from $6,600.00 to $6,400.00 and set a "hold" rating for the company in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $6,597.17. NVR stock down 2.2%. Discover more Defense Industry News Military Technology Updates Defense Contractor Directory Shares of NYSE NVR opened at $5,974.60 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.28 and a quick ratio of 2.24. The company has a 50-day moving average price of $6,164.59 and a 200-day moving average price of $6,302.88. The stock has a market capitalization of $15.92 billion, a P/E ratio of 16.47 and a beta of 0.90. NVR has a 1 year low of $5,501.01 and a 1 year high of $8,200.00. NVR (NYSE:NVR - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The construction company reported $89.45 earnings per share for the quarter, missing the consensus estimate of $102.77 by ($13.32). NVR had a net margin of 11.51% and a return on equity of 29.23%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the business posted $112.33 earnings per share. NVR's revenue was down 8.2% on a year-over-year basis. On average, equities research analysts forecast that NVR will post 361.98 EPS for the current fiscal year. Insider activity at NVR. In related news, Director George Oliver purchased 63 shares of NVR stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $6,431.51 per share, for a total transaction of $405,185.13. Following the completion of the acquisition, the director directly owned 63 shares of the company's stock, valued at $405,185.13. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.60% of the company's stock. Hedge funds weigh in on NVR. A number of hedge funds have recently bought and sold shares of NVR. Keybank National Association OH lifted its holdings in NVR by 3.1% in the 1st quarter. Keybank National Association OH now owns 66 shares of the construction company's stock valued at $435,000 after acquiring an additional 2 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of NVR by 3.8% in the 1st quarter. International Assets Investment Management LLC now owns 55 shares of the construction company's stock worth $367,000 after purchasing an additional 2 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of NVR by 3.7% in the 1st quarter. Parallel Advisors LLC now owns 56 shares of the construction company's stock worth $369,000 after purchasing an additional 2 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of NVR by 1.0% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 203 shares of the construction company's stock worth $1,383,000 after purchasing an additional 2 shares in the last quarter. Finally, Nissay Asset Management Corp Japan lifted its position in shares of NVR by 0.6% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 364 shares of the construction company's stock valued at $2,480,000 after acquiring an additional 2 shares during the last quarter. Institutional investors own 83.67% of the company's stock. More NVR news. Here are the key news stories impacting NVR this week: * NVR's third-quarter backlog increased approximately 10%, providing some future revenue visibility despite current market weakness. * The company reported third-quarter net income of $248.6 million, or $89.45 per diluted share, while maintaining solid profitability with a reported 31.02% return on equity and 12.26% net margin. * Third-quarter EPS of $89.45 missed consensus estimates of roughly $102.77-$106.11, while revenue of about $2.42 billion fell short of expectations near $2.57 billion. Revenue declined 8.2% year over year, and EPS fell from $112.33 in the prior-year quarter. * Results were pressured by fewer home settlements, softer pricing and lower margins, signaling that high mortgage costs and cautious homebuyers are weakening near-term demand. * Bank of America downgraded NVR from Buy to Underperform and cut its price target to $5,900, citing weak orders, margin pressure, rising construction costs and reduced demand. The firm expects these challenges to affect earnings through 2027. NVR company profile. NVR, Inc is a homebuilding and mortgage banking company headquartered in Reston, Virginia. Through its homebuilding operations, the company designs and constructs single-family detached homes, townhomes and condominiums for buyers in a range of residential markets. NVR markets homes primarily under the Ryan Homes, NVHomes and Heartland Homes brands. Ryan Homes generally serves a broad range of buyers, while NVHomes focuses on higher-end communities. The company's homebuilding operations serve selected markets across the Mid-Atlantic, Midwest and Southeast regions of the United States. Through NVR Mortgage, the company provides mortgage loan origination services to many of its homebuyers. 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NVR profit falls 27% as homebuilding margins and mortgage volume decline. NVR's third-quarter profit fell 27% as homebuilding margins narrowed and mortgage production declined, even as its backlog of homes sold but not settled grew. NVR Inc. reported a 27% drop in third-quarter net income as affordability pressure, higher lot costs and weaker demand squeezed homebuilding profitability, while its mortgage banking unit closed fewer loans. The Reston, Virginia-based builder and mortgage lender reported net income of $248.6 million for the quarter ended September 30, 2026, compared with $342.7 million a year earlier. Diluted earnings per share declined 20% to $89.45. Consolidated revenue fell to $2.40 billion from $2.61 billion, according to results announced October 22 and furnished in an SEC Form 8-K. Homebuilding margins narrow as cancellations rise. NVR's homebuilding gross margin dropped to 18.3%, down from 21.0% in the third quarter of 2025. The company cited higher lot costs, pricing pressure stemming from affordability challenges and weak consumer sentiment, as well as approximately $24.8 million in contract land-deposit impairments. Homebuilding revenue fell 8% to $2.35 billion. Pretax income in that segment declined 27% to $299.7 million. New orders fell 7% to 4,391 homes from 4,735 a year earlier, while the average price of new orders declined 5% to $442,100. The cancellation rate increased to 21% from approximately 19% in the year-earlier quarter. Home settlements declined 7% to 5,268, and the average settlement price fell 2% to $445,900. Those figures point to more than a slowdown in deliveries: NVR sold fewer homes at lower average prices and retained less gross profit on each dollar of homebuilding revenue. However, its financial results do not establish that all builders or geographic markets experienced the same conditions. Backlog grows despite slower quarterly orders. There was a counterweight to the weaker quarterly figures. NVR ended September with a backlog of 10,121 homes sold but not yet settled, up 10% from 9,165 a year earlier. The backlog's dollar value rose 4% to $4.59 billion. The average price represented in backlog was lower than a year earlier, according to NVR's operating tables. A larger backlog can provide visibility into future deliveries, but the timing of closings and the potential for cancellations remain important considerations. NVR builds homes under the Ryan Homes, NVHomes and Heartland Homes brands across 37 metropolitan areas in 16 states and Washington, D.C. Mortgage originations fall 10%, but pretax earnings improve. NVR's mortgage banking operation closed $1.38 billion in loans during the quarter, a 10% decrease from approximately $1.54 billion a year earlier. The unit's pretax income nevertheless increased 7% to $35.0 million from $32.7 million. The contrast matters for mortgage professionals: lower loan production does not necessarily translate into lower pretax profit in the same proportion. NVR's mortgage capture rate slipped to 85% from 86%, according to its operating data. For the first nine months of 2026, consolidated revenue declined 13% to $6.61 billion and net income fell 30% to $683.4 million. Those results underscore that the third-quarter pressures extend beyond a single reporting period. What the results say about the housing market. NVR's earnings add to evidence that affordability and buyer hesitation continue to weigh on new-home demand. Higher land costs and incentives or pricing concessions can compress margins even when builders continue to sell homes. The company's increased backlog offers a more mixed picture than its quarterly order decline alone. The report is also a reminder to distinguish between homebuilding results and the company's integrated mortgage banking performance. NVR's loan production declined, but its mortgage unit remained profitable and posted higher pretax earnings.