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

Forestar Group Inc (NYSE:FOR) has been given an average rating of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $31.75.

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Zacks Research upgraded shares of Forestar Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a research report on Thursday, January 22nd. Finally, Citigroup boosted their price target on shares of Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th.

Institutional Inflows and Outflows

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

Forestar Group Stock Performance

Shares of Forestar Group stock opened at $24.33 on Friday. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 7.44 and a beta of 1.42. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50-day moving average of $27.30 and a 200 day moving average of $26.33. Forestar Group has a 12 month low of $18.00 and a 12 month high of $30.74.

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