Forestar Group (NYSE:FOR) Shares Gap Down – What’s Next?

Forestar Group Inc (NYSE:FOR) shares gapped down prior to trading on Tuesday . The stock had previously closed at $27.40, but opened at $25.50. Forestar Group shares last traded at $25.89, with a volume of 17,840 shares trading hands.

Wall Street Analysts Forecast Growth

FOR has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a research note on Wednesday, October 8th. Citigroup increased their price objective on shares of Forestar Group from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Citizens Jmp boosted their target price on shares of Forestar Group from $30.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 29th. Zacks Research upgraded shares of Forestar Group from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Forestar Group from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Forestar Group Stock Performance

The stock has a 50-day moving average of $25.52 and a 200 day moving average of $25.73. The stock has a market cap of $1.29 billion, a PE ratio of 7.74 and a beta of 1.42. The company has a quick ratio of 1.33, a current ratio of 0.71 and a debt-to-equity ratio of 0.44.

Forestar Group (NYSE:FOR) last issued its earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. Forestar Group had a return on equity of 9.76% and a net margin of 9.90%.The business had revenue of $273.00 million during the quarter, compared to the consensus estimate of $265.48 million. During the same period last year, the company earned $0.32 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts predict that Forestar Group Inc will post 3.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Forestar Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Forestar Group by 1,206.6% during the 3rd 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 during the last quarter. Allworth Financial LP raised its position in Forestar Group by 3,273.8% in the second quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 1,375 shares during the period. Comerica Bank lifted its stake in shares of Forestar Group by 76.5% in the 3rd quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 550 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of 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 during the period. Finally, Signaturefd LLC grew its holdings in shares of Forestar Group by 43.1% during the 2nd 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 and hedge funds.

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.