Forestar Group (NYSE:FOR) Earns “Market Outperform” Rating from Citizens Jmp

Forestar Group (NYSE:FOR)‘s stock had its “market outperform” rating reiterated by equities research analysts at Citizens Jmp in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $35.00 price target on the oil and gas exploration company’s stock. Citizens Jmp’s price target would indicate a potential upside of 25.56% from the company’s previous close.

FOR has been the subject of a number of other research reports. Weiss Ratings upgraded Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. BTIG Research began coverage on shares of Forestar Group in a research report on Monday, March 30th. They issued a “hold” rating on the stock. Finally, Zacks Research cut shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Forestar Group has an average rating of “Hold” and an average target price of $32.67.

Forestar Group Stock Performance

FOR opened at $27.88 on Wednesday. Forestar Group has a 1-year low of $22.81 and a 1-year high of $32.06. The stock has a market cap of $1.42 billion, a P/E ratio of 8.37 and a beta of 1.39. The stock’s 50 day simple moving average is $28.78 and its 200 day simple moving average is $27.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.36.

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

Institutional Investors Weigh In On Forestar Group

Large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its position 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 worth $26,000 after buying an additional 917 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Forestar Group in the fourth quarter valued at $27,000. Fifth Third Bancorp acquired a new stake in shares of Forestar Group during the first quarter valued at $31,000. Comerica Bank boosted its stake in shares of Forestar Group by 76.5% during the third 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. Finally, Tower Research Capital LLC TRC increased its position in Forestar Group by 201.1% during 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 in the last quarter. 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.