Forestar Group (NYSE:FOR) Price Target Cut to $32.00 by Analysts at Citigroup

Forestar Group (NYSE:FOR) had its price objective trimmed by Citigroup from $39.00 to $32.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

Forestar Group Stock Performance

Shares of FOR stock opened at $24.21 on Thursday. Forestar Group has a fifty-two week low of $23.77 and a fifty-two week high of $40.92. The stock’s 50-day moving average is $27.39 and its two-hundred day moving average is $29.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $1.23 billion, a P/E ratio of 6.78 and a beta of 1.74.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $318,000 billion. Forestar Group had a net margin of 12.50% and a return on equity of 11.91%. The company’s revenue was down 18.1% compared to the same quarter last year. Analysts predict that Forestar Group will post 3.67 earnings per share for the current fiscal year.

Institutional Trading of Forestar Group

Several large investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Forestar Group by 4.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,831 shares of the oil and gas exploration company’s stock worth $286,000 after purchasing an additional 392 shares during the last quarter. Carolina Wealth Advisors LLC lifted its stake in shares of Forestar Group by 2.3% in the fourth quarter. Carolina Wealth Advisors LLC now owns 20,589 shares of the oil and gas exploration company’s stock worth $534,000 after buying an additional 454 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Forestar Group by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock worth $349,000 after buying an additional 765 shares during the period. Point72 DIFC Ltd acquired a new position in Forestar Group in the 3rd quarter valued at $32,000. Finally, nVerses Capital LLC raised its holdings in Forestar Group by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 35.50% of the company’s stock.

Forestar Group Company Profile

Forestar Group Inc operates as a residential lot development company in the United States. The company 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 was incorporated in 2005 and is headquartered in Arlington, Texas.