Shares of Forrester Research, Inc. (NASDAQ:FORR) have been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $57.00.
Several research analysts recently commented on FORR shares. Sidoti started coverage on Forrester Research in a research note on Wednesday, August 28th. They issued a “buy” rating and a $55.00 price objective for the company. ValuEngine raised Forrester Research from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Zacks Investment Research downgraded Forrester Research from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Barrington Research reissued a “hold” rating on shares of Forrester Research in a research note on Monday, October 21st. Finally, Maxim Group reissued a “buy” rating and issued a $59.00 price objective (down from $62.00) on shares of Forrester Research in a research note on Thursday, August 1st.
NASDAQ FORR traded up $0.01 during mid-day trading on Monday, hitting $36.11. The stock had a trading volume of 595 shares, compared to its average volume of 53,520. The firm’s 50 day moving average is $33.94 and its 200 day moving average is $41.52. Forrester Research has a twelve month low of $30.76 and a twelve month high of $51.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $654.89 million, a price-to-earnings ratio of 42.95 and a beta of 0.72.
Forrester Research (NASDAQ:FORR) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05. Forrester Research had a negative return on equity of 6.12% and a negative net margin of 2.08%. The firm had revenue of $108.60 million during the quarter, compared to the consensus estimate of $107.21 million. As a group, equities research analysts expect that Forrester Research will post -0.7 earnings per share for the current year.
In related news, Director Neil Bradford bought 3,040 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was acquired at an average cost of $32.63 per share, with a total value of $99,195.20. Following the purchase, the director now directly owns 8,809 shares of the company’s stock, valued at $287,437.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 43.40% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of FORR. Nuveen Asset Management LLC acquired a new stake in shares of Forrester Research in the 2nd quarter worth $4,392,000. GW&K Investment Management LLC grew its holdings in shares of Forrester Research by 41.9% during the 3rd quarter. GW&K Investment Management LLC now owns 154,898 shares of the technology company’s stock worth $4,978,000 after purchasing an additional 45,724 shares during the period. BlackRock Inc. grew its holdings in shares of Forrester Research by 2.7% during the 2nd quarter. BlackRock Inc. now owns 1,638,798 shares of the technology company’s stock worth $77,072,000 after purchasing an additional 42,795 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Forrester Research by 5.3% during the 2nd quarter. Renaissance Technologies LLC now owns 839,018 shares of the technology company’s stock worth $39,459,000 after purchasing an additional 42,418 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Forrester Research during the 2nd quarter worth $1,916,000. 53.93% of the stock is owned by institutional investors and hedge funds.
Forrester Research Company Profile
Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.
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