Forestar Group Inc (NYSE:FOR) Stock Has Average Price Target of $32.67

Shares of Forestar Group Inc (NYSE:FOR) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $32.67.

Several analysts have recently weighed in on the company. Citizens Jmp reiterated a “market outperform” rating and set a $35.00 target price on shares of Forestar Group in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th.

Forestar Group Stock Performance

Shares of NYSE:FOR opened at $24.75 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.63 and a beta of 1.40. Forestar Group has a 12 month low of $22.81 and a 12 month high of $32.06. The firm’s 50-day moving average is $27.32 and its 200 day moving average is $27.72.

Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.11). Forestar Group had a net margin of 9.88% and a return on equity of 9.42%. The business had revenue of $407.00 million for the quarter, compared to analysts’ expectations of $437.73 million. During the same quarter last year, the firm earned $0.65 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis.

Institutional Investors Weigh In On Forestar Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA increased its stake in shares of Forestar Group by 3.4% during the first quarter. Glenmede Trust Co. NA now owns 21,687 shares of the oil and gas exploration company’s stock valued at $530,000 after buying an additional 714 shares during the period. Allworth Financial LP purchased a new stake in Forestar Group in the second quarter worth about $33,000. Versant Capital Management Inc lifted its stake in Forestar Group by 74.0% in the second quarter. Versant Capital Management Inc now owns 2,727 shares of the oil and gas exploration company’s stock worth $86,000 after acquiring an additional 1,160 shares during the period. Fifth Third Bancorp purchased a new stake in Forestar Group in the first quarter worth about $31,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Forestar Group by 4.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,941 shares of the oil and gas exploration company’s stock worth $1,327,000 after acquiring an additional 1,656 shares in the last quarter. Institutional investors own 35.50% of the company’s stock.

Forestar Group Company Profile

Forestar Group Inc (NYSE:FOR) is a residential lot development company that acquires, entitles and develops land for single-family and, in some markets, mixed-use communities. The company generally sells finished or partially developed residential lots to homebuilders rather than constructing homes for individual buyers.

Forestar’s activities include land acquisition, planning and entitlement, infrastructure development, and the management of residential development projects. Its lots are intended to support a range of housing types and price points, and the company works with national, regional and local homebuilders across its operating markets.

The company operates in multiple markets throughout the United States.