Forestar Group Inc (NYSE:FOR) Receives Consensus Rating of “Hold” from Brokerages

Shares of Forestar Group Inc (NYSE:FOR) have been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $32.6667.

A number of equities analysts have recently commented on FOR shares. Weiss Ratings cut Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Zacks Research cut Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, BTIG Research started coverage on Forestar Group in a report on Monday, March 30th. They set a “hold” rating for the company.

Hedge Funds Weigh In On Forestar Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in 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 worth $73,644,000 after purchasing an additional 110,286 shares in the last quarter. Total Wealth Planning & Management Inc. acquired a new position in Forestar Group in the 4th quarter worth about $552,000. Integrated Advisors Network LLC acquired a new position in Forestar Group in the 3rd quarter worth about $485,000. American Century Companies Inc. increased its holdings in Forestar Group by 5.5% in the 3rd quarter. American Century Companies Inc. now owns 702,223 shares of the oil and gas exploration company’s stock worth $18,672,000 after purchasing an additional 36,626 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new position in Forestar Group in the 4th quarter worth about $432,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Price Performance

Forestar Group stock opened at $32.01 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.36. Forestar Group has a 52 week low of $19.88 and a 52 week high of $32.06. The stock has a market capitalization of $1.63 billion, a P/E ratio of 9.76 and a beta of 1.41. The stock has a fifty day moving average of $27.82 and a 200-day moving average of $26.92.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.09). Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The business had revenue of $374.30 million for the quarter, compared to analyst estimates of $372.57 million. During the same period last year, the firm posted $0.62 EPS. Forestar Group’s quarterly revenue was up 6.6% on a year-over-year basis.

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.