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

Forestar Group Inc (NYSE:FOR) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $32.6667.

Several equities analysts recently issued reports on FOR shares. Weiss Ratings lowered shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. BTIG Research started coverage on shares of Forestar Group in a report on Monday, March 30th. They set a “hold” rating on the stock. Finally, Zacks Research lowered shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th.

Forestar Group Stock Performance

Forestar Group stock opened at $28.43 on Friday. The company has a 50 day moving average price of $26.43 and a 200-day moving average price of $26.39. 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 fifty-two week low of $19.26 and a fifty-two week high of $30.74. The company has a market capitalization of $1.45 billion, a PE ratio of 8.67 and a beta of 1.41.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.09). Forestar Group had a net margin of 9.80% and a return on equity of 9.49%. The company had revenue of $374.30 million for the quarter, compared to the consensus estimate of $372.57 million. During the same period in the prior year, the firm posted $0.62 EPS. The business’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts forecast that Forestar Group will post 3.06 earnings per share for the current year.

Hedge Funds Weigh In On Forestar Group

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Forestar Group by 4.1% during the third 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 buying an additional 110,286 shares during the period. Integrated Advisors Network LLC purchased a new position in Forestar Group during the third quarter valued at approximately $485,000. American Century Companies Inc. increased its holdings in Forestar Group by 5.5% during the third quarter. American Century Companies Inc. now owns 702,223 shares of the oil and gas exploration company’s stock valued at $18,672,000 after buying an additional 36,626 shares during the period. Assenagon Asset Management S.A. increased its holdings in Forestar Group by 5.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 9,946 shares of the oil and gas exploration company’s stock valued at $245,000 after buying an additional 500 shares during the period. Finally, Quantbot Technologies LP increased its holdings in Forestar Group by 14.7% during the third quarter. Quantbot Technologies LP now owns 16,889 shares of the oil and gas exploration company’s stock valued at $449,000 after buying an additional 2,159 shares during the period. 35.50% of the stock is owned by hedge funds and other 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.