Forestar Group Inc (NYSE:FOR) Given Average Rating of “Moderate Buy” by Analysts

Forestar Group Inc (NYSE:FOR) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $32.40.

FOR has been the topic of several analyst reports. Citigroup lifted their price objective on Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday. Citizens Jmp lifted their price target on Forestar Group from $30.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Forestar Group in a research report on Thursday, January 22nd. Wall Street Zen cut shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Forestar Group from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th.

Hedge Funds Weigh In On Forestar Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Forestar Group by 1,206.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 917 shares during the period. Comerica Bank increased its holdings in Forestar Group by 76.5% during the 3rd quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 550 shares during the period. Allworth Financial LP raised its position in Forestar Group by 3,273.8% during the 2nd quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 1,375 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Forestar Group by 201.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company’s stock worth $42,000 after buying an additional 1,406 shares during the period. Finally, Signaturefd LLC lifted its holdings in Forestar Group by 43.1% in the 2nd quarter. Signaturefd LLC now owns 2,166 shares of the oil and gas exploration company’s stock worth $43,000 after buying an additional 652 shares during the period. 35.50% of the stock is owned by institutional investors.

Forestar Group Price Performance

FOR stock opened at $26.06 on Friday. The firm has a market cap of $1.33 billion, a P/E ratio of 7.97 and a beta of 1.42. The firm’s fifty day moving average is $25.72 and its 200 day moving average is $25.87. Forestar Group has a 52 week low of $18.00 and a 52 week high of $29.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71.

Forestar Group (NYSE:FOR) last issued its earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. Forestar Group had a net margin of 9.90% and a return on equity of 9.76%. The company had revenue of $273.00 million for the quarter, compared to analysts’ expectations of $265.48 million. During the same quarter last year, the company earned $0.32 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. Research analysts predict that Forestar Group will post 3.44 earnings per share for the current year.

About Forestar Group

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.