A key reason for this move has been the positive trend in the earnings estimate revisions picture. For NVR’s full year estimate, we have seen 3 estimates go higher in the past 30 days, compared to no downward revision. This trend has helped the consensus estimate to trend higher, going from a $68.48 a share a month ago to its current level at $72.09.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, NVR has seen some pretty solid trading lately, as the company has moved higher by 14.6 % in the past month.
If NVR can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put NVR on your watch list for the future.
Other top-ranked stocks worth considering in this space include MRV Engenharia e Participa (MRVNY), Taylor Morrison Home Corporation (TMHC) and William Lyon Homes (WLH). All these stocks carry a Zacks Rank #1 (Strong Buy).
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