Forestar Group (NYSE:FOR) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Forestar Group (NYSE:FOR) from a hold rating to a buy rating in a report issued on Friday morning.

Several other equities research analysts also recently commented on the stock. BTIG Research upgraded shares of Forestar Group from a neutral rating to a buy rating and set a $32.00 price objective for the company in a research note on Friday, July 21st. Citigroup lifted their price objective on shares of Forestar Group from $30.00 to $32.00 and gave the stock a buy rating in a research note on Monday, July 24th.

Forestar Group Price Performance

NYSE FOR opened at $31.48 on Friday. The firm’s fifty day simple moving average is $26.56 and its two-hundred day simple moving average is $25.15. The company has a current ratio of 2.64, a quick ratio of 1.88 and a debt-to-equity ratio of 0.51. Forestar Group has a 12-month low of $13.72 and a 12-month high of $31.95. The firm has a market capitalization of $1.57 billion, a P/E ratio of 9.42 and a beta of 1.62.

Institutional Investors Weigh In On Forestar Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. lifted its position in Forestar Group by 1,601.6% during the third quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 977 shares during the period. Lazard Asset Management LLC acquired a new position in Forestar Group during the third quarter valued at $32,000. Acadian Asset Management LLC acquired a new position in Forestar Group during the second quarter valued at $34,000. Envestnet Asset Management Inc. acquired a new position in Forestar Group during the first quarter valued at $35,000. Finally, JBF Capital Inc. lifted its position in Forestar Group by 25.0% during the second quarter. JBF Capital Inc. now owns 2,500 shares of the oil and gas exploration company’s stock valued at $56,000 after purchasing an additional 500 shares during the period. 35.94% of the stock is currently owned by institutional investors and hedge funds.

Forestar Group Company Profile

Forestar Group Inc operates as a residential lot development company in the United States. The acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company is headquartered in Arlington, Texas.