Forestar Group Inc (NYSE:FOR) Receives Consensus Rating of “Hold” from Analysts

Forestar Group Inc (NYSE:FOR) has received a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $32.6667.

FOR has been the subject of several research analyst reports. Weiss Ratings raised Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Wall Street Zen downgraded Forestar Group from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Citigroup boosted their price target on Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. BTIG Research began coverage on Forestar Group in a report on Monday, March 30th. They set a “hold” rating on the stock. Finally, Zacks Research cut Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th.

Forestar Group Stock Up 0.0%

Shares of NYSE FOR opened at $25.53 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 7.78 and a beta of 1.45. Forestar Group has a 12 month low of $18.50 and a 12 month high of $30.74. The stock has a 50-day moving average price of $26.02 and a two-hundred day moving average price of $26.24.

Forestar Group (NYSE:FOR) last issued its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.09). The business had revenue of $374.30 million for the quarter, compared to analyst estimates of $372.57 million. Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS. As a group, analysts forecast that Forestar Group will post 3.06 earnings per share for the current fiscal year.

Institutional Trading of Forestar Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Forestar Group by 1,206.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 917 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Forestar Group during the fourth quarter worth about $27,000. Fifth Third Bancorp bought a new stake in shares of Forestar Group during the first quarter worth about $31,000. Comerica Bank grew its holdings in shares of Forestar Group by 76.5% during the third quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 550 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new stake in shares of Forestar Group during the first quarter worth about $44,000. 35.50% of the stock is currently owned by institutional investors.

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.