Forestar Group (NYSE:FOR) Lowered to Hold Rating by Wall Street Zen

Forestar Group (NYSE:FOR) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other analysts have also weighed in on the company. Citizens Jmp upped their price objective on Forestar Group from $30.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 29th. Zacks Research raised Forestar Group from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. JMP Securities set a $35.00 price target on Forestar Group in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Forestar Group in a research note on Wednesday, October 8th. Finally, Citigroup upped their target price on shares of Forestar Group from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Forestar Group Stock Down 1.9%

Shares of FOR traded down $0.48 during mid-day trading on Friday, hitting $24.83. 179,718 shares of the company’s stock were exchanged, compared to its average volume of 136,961. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.33 and a current ratio of 0.71. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 7.59 and a beta of 1.42. The stock’s 50-day moving average is $25.53 and its 200-day moving average is $25.76. Forestar Group has a fifty-two week low of $18.00 and a fifty-two week high of $29.44.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The firm had revenue of $273.00 million during the quarter, compared to analysts’ expectations of $265.48 million. Forestar Group had a net margin of 9.90% and a return on equity of 9.76%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. On average, sell-side analysts anticipate that Forestar Group will post 3.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forestar Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOR. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Forestar Group in the third quarter worth $2,003,000. Dimension Capital Management LLC acquired a new position in shares of Forestar Group during the 2nd quarter valued at $1,512,000. Swedbank AB lifted its holdings in shares of Forestar Group by 400.0% during the 3rd quarter. Swedbank AB now owns 500,000 shares of the oil and gas exploration company’s stock valued at $13,295,000 after acquiring an additional 400,000 shares in the last quarter. KLP Kapitalforvaltning AS boosted its position in Forestar Group by 13.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 33,800 shares of the oil and gas exploration company’s stock worth $676,000 after purchasing an additional 4,000 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Forestar Group by 237.1% in the 2nd quarter. Parallel Advisors LLC now owns 3,533 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 2,485 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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.