Forestar Group Inc (NYSE:FOR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Forestar Group Inc (NYSE:FOR) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $32.00.

Several brokerages recently commented on FOR. Zacks Research raised shares of Forestar Group from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. JPMorgan Chase & Co. boosted their price objective on shares of Forestar Group from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “hold (c)” rating on shares of Forestar Group in a report on Wednesday, October 8th. Citizens Jmp lifted their target price on Forestar Group from $30.00 to $35.00 and gave the company a “market outperform” rating in a report on Wednesday, October 29th. Finally, JMP Securities set a $35.00 price target on Forestar Group in a research report on Wednesday, October 29th.

Institutional Trading of Forestar Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Swedbank AB lifted its position in Forestar Group by 400.0% during the third quarter. Swedbank AB now owns 500,000 shares of the oil and gas exploration company’s stock valued at $13,295,000 after buying an additional 400,000 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Forestar Group by 232.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 529,863 shares of the oil and gas exploration company’s stock valued at $10,597,000 after acquiring an additional 370,685 shares during the period. Millennium Management LLC raised its stake in shares of Forestar Group by 50.8% in the 1st quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock valued at $10,342,000 after acquiring an additional 164,753 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Forestar Group by 235.3% during the 3rd quarter. Alliancebernstein L.P. now owns 159,053 shares of the oil and gas exploration company’s stock valued at $4,229,000 after acquiring an additional 111,620 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Forestar Group by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,769,594 shares of the oil and gas exploration company’s stock worth $73,644,000 after purchasing an additional 110,286 shares during the period. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Price Performance

NYSE:FOR opened at $24.82 on Tuesday. Forestar Group has a 12-month low of $18.00 and a 12-month high of $29.44. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 7.55 and a beta of 1.42. The company’s 50-day moving average is $25.23 and its two-hundred day moving average is $25.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45.

Forestar Group (NYSE:FOR) last issued its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.53. The business had revenue of $670.50 million during the quarter, compared to the consensus estimate of $556.59 million. Forestar Group had a net margin of 10.11% and a return on equity of 10.08%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 earnings per share. Research analysts expect that Forestar Group will post 3.44 EPS for the current year.

Forestar Group Company Profile

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.