Forestar Group (NYSE:FOR) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Forestar Group Inc (NYSE:FOR) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $25.87 and traded as high as $26.36. Forestar Group shares last traded at $26.0550, with a volume of 218,296 shares traded.

Analysts Set New Price Targets

Several brokerages recently commented on FOR. JMP Securities set a $35.00 price target on shares of Forestar Group in a research report on Wednesday, October 29th. Citigroup increased their target price on Forestar Group from $36.00 to $38.00 and gave the company 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 company a “market outperform” rating in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a research note on Thursday, January 22nd. Finally, Wall Street Zen lowered Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.40.

Forestar Group Trading Up 0.8%

The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 7.97 and a beta of 1.42. The company has a fifty day moving average price of $25.72 and a 200-day moving average price of $25.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.09. The firm 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 company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. On average, equities research analysts predict that Forestar Group Inc will post 3.44 EPS for the current year.

Institutional Investors Weigh In On Forestar Group

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings in 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 valued at $26,000 after buying an additional 917 shares in the last quarter. Comerica Bank increased its holdings in shares of 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 acquiring an additional 550 shares during the last quarter. Allworth Financial LP raised its stake in shares of Forestar Group by 3,273.8% in 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 acquiring an additional 1,375 shares in 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 purchasing an additional 1,406 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Forestar Group by 43.1% during the second quarter. Signaturefd LLC now owns 2,166 shares of the oil and gas exploration company’s stock worth $43,000 after purchasing an additional 652 shares during the period. 35.50% of the stock is currently owned by institutional investors.

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.