Forestar Group Inc (NYSE:FOR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Forestar Group Inc (NYSE:FOR) have been given an average recommendation of “Moderate Buy” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $32.40.

A number of research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Forestar Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. boosted their target price on Forestar Group from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Citizens Jmp raised their price target on Forestar Group from $30.00 to $35.00 and gave the company a “market outperform” rating in a report on Wednesday, October 29th. JMP Securities set a $35.00 price objective on Forestar Group in a report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a report on Thursday, January 22nd.

Forestar Group Stock Performance

Shares of Forestar Group stock opened at $29.32 on Friday. The firm has a market capitalization of $1.49 billion, a P/E ratio of 8.97 and a beta of 1.43. Forestar Group has a 52 week low of $18.00 and a 52 week high of $29.44. 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 firm’s 50 day moving average is $25.89 and its two-hundred day moving average is $26.02.

Forestar Group (NYSE:FOR) last issued 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 company had revenue of $273.00 million during the quarter, compared to analysts’ expectations of $265.48 million. Forestar Group had a return on equity of 9.76% and a net margin of 9.90%.The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. Research analysts forecast that Forestar Group will post 3.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Forestar Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its stake in Forestar Group by 1,206.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 917 shares in the last quarter. Comerica Bank grew its holdings in 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 purchasing an additional 550 shares during the last quarter. Allworth Financial LP increased its position in shares of Forestar Group by 3,273.8% in the second 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 in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Forestar Group by 201.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company’s stock worth $42,000 after buying an additional 1,406 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Forestar Group by 43.1% during the 2nd quarter. Signaturefd LLC now owns 2,166 shares of the oil and gas exploration company’s stock worth $43,000 after buying an additional 652 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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.