Forestar Group Inc (NYSE:FOR) Receives $31.75 Average PT from Brokerages

Shares of Forestar Group Inc (NYSE:FOR) have earned an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $31.75.

FOR has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Forestar Group in a research note on Thursday, January 22nd. Citigroup boosted their price objective on shares of Forestar Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Zacks Research upgraded shares of Forestar Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Wall Street Zen cut shares of Forestar Group from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd.

Institutional Investors Weigh In On Forestar Group

A number of hedge funds have recently added to or reduced their stakes in FOR. Caitong International Asset Management Co. Ltd increased its position in 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 purchasing an additional 917 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Forestar Group during the 4th quarter worth approximately $27,000. Allworth Financial LP lifted its holdings in shares of Forestar Group by 3,273.8% in the 2nd quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock valued at $28,000 after buying an additional 1,375 shares during the period. Comerica Bank boosted its stake in shares of Forestar Group by 76.5% in the third quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 550 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Forestar Group by 201.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company’s stock valued at $42,000 after buying an additional 1,406 shares in the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Stock Performance

Shares of FOR stock opened at $24.84 on Friday. The stock’s 50-day moving average price is $27.07 and its 200 day moving average price is $26.23. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $1.26 billion, a PE ratio of 7.60 and a beta of 1.42. Forestar Group has a 52-week low of $18.00 and a 52-week high of $30.74.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share 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 company had revenue of $273.00 million during the quarter, compared to analysts’ expectations of $265.48 million. During the same period last year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts forecast that Forestar Group will post 3.44 EPS for the current year.

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.