Forestar Group (NYSE:FOR) Stock Rating Lowered by Wall Street Zen

Forestar Group (NYSE:FOR) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Friday.

Several other equities analysts have also weighed in on FOR. Citizens Jmp lifted their price target on Forestar Group from $30.00 to $35.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 29th. Zacks Research raised Forestar Group from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. JMP Securities set a $35.00 target price on Forestar Group in a research note on Wednesday, October 29th. JPMorgan Chase & Co. increased their target price on Forestar Group from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Citigroup boosted their price target on shares of Forestar Group from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.00.

Forestar Group Stock Performance

Shares of FOR traded down $0.48 during trading hours on Friday, hitting $24.83. The stock had a trading volume of 179,718 shares, compared to its average volume of 136,961. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.33 and a current ratio of 0.71. The firm has a 50-day moving average price of $25.53 and a 200 day moving average price of $25.76. Forestar Group has a fifty-two week low of $18.00 and a fifty-two week high of $29.44. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.59 and a beta of 1.42.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.21 by $0.09. The company had revenue of $273.00 million for the quarter, compared to analyst estimates of $265.48 million. Forestar Group had a net margin of 9.90% and a return on equity of 9.76%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. As a group, research analysts anticipate that Forestar Group will post 3.44 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FOR. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Forestar Group during the 3rd quarter worth approximately $2,003,000. Dimension Capital Management LLC purchased a new stake in Forestar Group in the second quarter valued at approximately $1,512,000. Swedbank AB lifted its stake in Forestar Group by 400.0% during the third quarter. Swedbank AB now owns 500,000 shares of the oil and gas exploration company’s stock worth $13,295,000 after purchasing an additional 400,000 shares in the last quarter. KLP Kapitalforvaltning AS lifted its stake in Forestar Group by 13.4% during the second quarter. KLP Kapitalforvaltning AS now owns 33,800 shares of the oil and gas exploration company’s stock worth $676,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Forestar Group by 237.1% during the second quarter. Parallel Advisors LLC now owns 3,533 shares of the oil and gas exploration company’s stock worth $71,000 after buying an additional 2,485 shares during the period. 35.50% of the stock is owned by hedge funds and other institutional investors.

About Forestar Group

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.