Forestar Group Inc. (NYSE:FOR) has earned a consensus rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $22.25.
FOR has been the topic of a number of research analyst reports. BTIG Research set a $24.00 price target on shares of Forestar Group and gave the company a “buy” rating in a report on Friday, July 26th. Buckingham Research initiated coverage on shares of Forestar Group in a report on Wednesday, June 5th. They set a “buy” rating and a $23.00 target price on the stock. Wells Fargo & Co initiated coverage on shares of Forestar Group in a report on Monday, July 8th. They set an “outperform” rating and a $23.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th.
Forestar Group stock traded up $0.58 during mid-day trading on Friday, reaching $19.02. 32,768 shares of the stock traded hands, compared to its average volume of 42,469. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.63 and a current ratio of 2.63. Forestar Group has a 12-month low of $12.77 and a 12-month high of $25.95. The firm’s 50-day simple moving average is $19.57.
Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. The company had revenue of $88.20 million for the quarter. As a group, sell-side analysts predict that Forestar Group will post 0.56 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FOR. Bank of Montreal Can increased its position in shares of Forestar Group by 1,217.5% in the 1st quarter. Bank of Montreal Can now owns 2,029 shares of the oil and gas exploration company’s stock worth $35,000 after purchasing an additional 1,875 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Forestar Group by 299.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,199 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 1,649 shares during the period. Millennium Management LLC acquired a new position in Forestar Group during the 4th quarter valued at about $175,000. Norges Bank acquired a new position in Forestar Group during the 4th quarter valued at about $302,000. Finally, Swiss National Bank boosted its stake in Forestar Group by 5.4% during the 2nd quarter. Swiss National Bank now owns 19,517 shares of the oil and gas exploration company’s stock valued at $382,000 after purchasing an additional 1,000 shares during the period. 21.42% of the stock is owned by institutional investors.
Forestar Group Company Profile
Forestar Group Inc operates as a real estate lot development company. It engages in the acquisition, entitlement, and development of infrastructure for single-family residential communities. Forestar Group Inc sells residential lots primarily to homebuilders, as well as sells commercial properties. The company is headquartered in Austin, Texas.
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