Forestar Group (NYSE:FOR) Stock Rating Lowered by Zacks Research

Forestar Group (NYSE:FOR) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Citigroup increased their target price on shares of Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Forestar Group in a research report on Thursday, January 22nd. BTIG Research initiated coverage on shares of Forestar Group in a research note on Monday. They set a “hold” rating on the stock. Finally, Wall Street Zen lowered shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.75.

Forestar Group Price Performance

FOR opened at $24.46 on Monday. Forestar Group has a 12-month low of $18.00 and a 12-month high of $30.74. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $26.97 and its 200-day simple moving average is $26.17. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 7.48 and a beta of 1.42.

Forestar Group (NYSE:FOR) last announced its quarterly earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 EPS 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 return on equity of 9.76% and a net margin of 9.90%.The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. On average, equities research analysts anticipate that Forestar Group will post 3.44 earnings per share for the current fiscal year.

Institutional Trading of Forestar Group

A number of institutional investors have recently bought and sold shares of FOR. Rhumbline Advisers grew its position in Forestar Group by 1.1% during the 3rd quarter. Rhumbline Advisers now owns 42,573 shares of the oil and gas exploration company’s stock worth $1,132,000 after purchasing an additional 457 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Forestar Group by 5.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 9,946 shares of the oil and gas exploration company’s stock worth $245,000 after buying an additional 500 shares during the last quarter. Comerica Bank lifted 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 worth $34,000 after buying an additional 550 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 during the period. Finally, First Trust Advisors LP grew its holdings in shares of Forestar Group by 0.6% during the second quarter. First Trust Advisors LP now owns 160,204 shares of the oil and gas exploration company’s stock valued at $3,204,000 after buying an additional 952 shares during the last quarter. 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.