Forestar Group (NYSE:FOR) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Forestar Group (NYSE:FOR) from a strong-buy rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Forestar Group, Inc. formerly known as Forestar Real Estate Group Inc. operates in two business segments: real estate and natural resources. The real estate segment owns directly or through ventures real estate. The natural resources segment manages acres of oil and gas mineral interests. In addition, the company also sells wood fiber from its land primarily located in Georgia, and leases land for recreational uses. “

Other research analysts also recently issued reports about the company. BTIG Research restated a buy rating and issued a $30.00 price target on shares of Forestar Group in a research note on Friday, November 5th. TheStreet upgraded Forestar Group from a c rating to a b- rating in a research note on Monday, November 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Buy and an average price target of $28.80.

NYSE:FOR opened at $19.30 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market cap of $957.09 million, a PE ratio of 8.54 and a beta of 1.93. Forestar Group has a 52-week low of $18.41 and a 52-week high of $26.55. The stock has a 50-day simple moving average of $21.00 and a 200 day simple moving average of $20.47.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Thursday, November 4th. The oil and gas exploration company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.20. The business had revenue of $418.70 million during the quarter, compared to the consensus estimate of $389.75 million. Forestar Group had a return on equity of 13.02% and a net margin of 8.31%. During the same period last year, the company earned $0.50 earnings per share. On average, research analysts predict that Forestar Group will post 3.22 earnings per share for the current fiscal year.

In related news, Director Lisa H. Jamieson sold 2,500 shares of Forestar Group stock in a transaction that occurred on Thursday, December 16th. The stock was sold at an average price of $21.56, for a total transaction of $53,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of Forestar Group stock in a transaction that occurred on Monday, December 20th. The stock was sold at an average price of $20.24, for a total value of $40,480.00. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

A number of institutional investors have recently bought and sold shares of FOR. Heartland Advisors Inc. increased its stake in Forestar Group by 260.0% during the 3rd quarter. Heartland Advisors Inc. now owns 360,000 shares of the oil and gas exploration company’s stock worth $6,707,000 after acquiring an additional 260,000 shares during the period. Carlson Capital L P increased its stake in shares of Forestar Group by 77.7% in the 2nd quarter. Carlson Capital L P now owns 579,497 shares of the oil and gas exploration company’s stock valued at $12,117,000 after purchasing an additional 253,382 shares during the last quarter. SG Capital Management LLC increased its stake in shares of Forestar Group by 166.6% in the 3rd quarter. SG Capital Management LLC now owns 200,732 shares of the oil and gas exploration company’s stock valued at $3,740,000 after purchasing an additional 125,446 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Forestar Group by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 769,259 shares of the oil and gas exploration company’s stock valued at $16,085,000 after purchasing an additional 114,044 shares during the last quarter. Finally, Tudor Investment Corp Et Al bought a new position in shares of Forestar Group in the 2nd quarter valued at $2,263,000. Hedge funds and other institutional investors own 32.03% of the company’s stock.

About Forestar Group

Forestar Group Inc engages in the provision of real estate business. It acquires land and develops infrastructure for single-family residential communities, and its revenues generally come from sales of residential single-family finished lots to local, regional, and national homebuilders. The company was founded in 2007 and is headquartered in Arlington, TX.

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