Forestar Group Inc (NYSE:FOR) Given Consensus Rating of “Hold” by Brokerages

Shares of Forestar Group Inc (NYSE:FOR) have been assigned a consensus rating of “Hold” from the six analysts that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $32.6667.

A number of equities research analysts have recently weighed in on FOR shares. Weiss Ratings raised Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. BTIG Research started coverage on Forestar Group in a report on Monday, March 30th. They set a “hold” rating for the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Forestar Group in a research report on Wednesday. Finally, Zacks Research lowered shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th.

Forestar Group Stock Up 1.2%

Forestar Group stock opened at $28.24 on Friday. The company has a market capitalization of $1.44 billion, a PE ratio of 8.48 and a beta of 1.39. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.36 and a current ratio of 1.44. Forestar Group has a fifty-two week low of $22.81 and a fifty-two week high of $32.06. The firm has a 50 day moving average price of $28.83 and a 200 day moving average price of $27.49.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.11). Forestar Group had a return on equity of 9.42% and a net margin of 9.88%.The firm had revenue of $407.00 million for the quarter, compared to analyst estimates of $437.73 million. During the same quarter last year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its holdings in Forestar Group by 74.0% during the 2nd quarter. Versant Capital Management Inc now owns 2,727 shares of the oil and gas exploration company’s stock worth $86,000 after buying an additional 1,160 shares in the last quarter. NewEdge Advisors LLC boosted its position in Forestar Group by 35.3% in the 1st quarter. NewEdge Advisors LLC now owns 23,221 shares of the oil and gas exploration company’s stock valued at $568,000 after buying an additional 6,055 shares during the period. Glenmede Trust Co. NA grew its stake in shares of Forestar Group by 3.4% in the first quarter. Glenmede Trust Co. NA now owns 21,687 shares of the oil and gas exploration company’s stock worth $530,000 after acquiring an additional 714 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Forestar Group by 28.2% in the first quarter. Janus Henderson Group PLC now owns 256,842 shares of the oil and gas exploration company’s stock worth $6,286,000 after acquiring an additional 56,514 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Forestar Group during the first quarter worth $1,935,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

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.