Forestar Group (NYSE:FOR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Forestar Group (NYSE:FOR – Get Rating) in a report released on Thursday morning. The brokerage issued a hold rating on the oil and gas exploration company’s stock.

Separately, Citigroup lifted their price objective on shares of Forestar Group from $18.00 to $21.00 in a research note on Tuesday, January 10th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $18.63.

Forestar Group Stock Performance

Shares of FOR opened at $14.46 on Thursday. The firm’s 50 day moving average is $14.97 and its 200-day moving average is $13.76. The stock has a market capitalization of $719.67 million, a P/E ratio of 4.52 and a beta of 1.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.93 and a quick ratio of 0.93. Forestar Group has a 12-month low of $10.28 and a 12-month high of $18.24.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Forestar Group by 1.3% in the third quarter. Vanguard Group Inc. now owns 2,708,813 shares of the oil and gas exploration company’s stock worth $30,312,000 after buying an additional 35,360 shares during the period. BlackRock Inc. boosted its holdings in shares of Forestar Group by 1.5% in the third quarter. BlackRock Inc. now owns 1,579,641 shares of the oil and gas exploration company’s stock worth $17,676,000 after buying an additional 23,940 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Forestar Group by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,225,150 shares of the oil and gas exploration company’s stock worth $18,879,000 after buying an additional 37,095 shares during the period. Heartland Advisors Inc. boosted its holdings in shares of Forestar Group by 80.7% in the third quarter. Heartland Advisors Inc. now owns 849,800 shares of the oil and gas exploration company’s stock worth $9,509,000 after buying an additional 379,550 shares during the period. Finally, Carlson Capital L P boosted its holdings in shares of Forestar Group by 8.1% in the third quarter. Carlson Capital L P now owns 658,082 shares of the oil and gas exploration company’s stock worth $7,364,000 after buying an additional 49,551 shares during the period. 35.02% of the stock is currently owned by institutional investors and hedge funds.

About Forestar Group

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Forestar Group Inc is a residential lot development company, which engages in the provision of real estate business. The firm focuses on making investments in land acquisition and development to sell finished single-family residential lots to homebuilders. The company was founded in 2007 and is headquartered in Arlington, TX.