Credit Suisse Downgrades NVR Inc. (NVR) to Underperform

December 15, 2015 8:27 AM EST
Get Alerts NVR Hot Sheet
Price: $4,818.45 +0.74%

Rating Summary:
    7 Buy, 9 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 5 | New: 41
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Credit Suisse downgraded NVR Inc. (NYSE: NVR) from Neutral to Underperform with a price target of $1,475, saying the valuation is disconnected with trends.

Analyst Michael Dahl commented, "NVR is expensive relative to past valuation and has already significantly outperformed (+31% ytd vs. group -4%). It currently trades at 5.6x BV (only 10% below its ’01-’05 P/BV avg. despite ROEs >50% below levels seen in those years) and at 16.2x NTM EPS (nearly 2x its ’01-’05 fwd. P/E avg.). The buybacks are helpful to be sure, but we think this is more than reflected in current valuation."

For an analyst ratings summary and ratings history on NVR Inc. click here. For more ratings news on NVR Inc. click here.

Shares of NVR Inc. closed at $1667.00 yesterday.

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