Forestar Group Inc (NYSE:FOR) Given Average Rating of “Hold” by Brokerages

Forestar Group Inc (NYSE:FOR) has earned an average rating of “Hold” from the six analysts that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $32.6667.

A number of research analysts recently issued reports on FOR shares. Wall Street Zen downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Citigroup lifted their price target on shares of Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Zacks Research downgraded shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. BTIG Research started coverage on shares of Forestar Group in a research note on Monday, March 30th. They issued a “hold” rating for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Forestar Group in a research note on Thursday, January 22nd.

Forestar Group Trading Down 0.3%

NYSE FOR opened at $26.56 on Thursday. The firm has a 50 day simple moving average of $26.70 and a 200-day simple moving average of $26.09. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. Forestar Group has a one year low of $18.12 and a one year high of $30.74. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 8.12 and a beta of 1.45.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data 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. Forestar Group had a net margin of 9.90% and a return on equity of 9.76%. The business had revenue of $273.00 million during the quarter, compared to analyst estimates of $265.48 million. During the same quarter last year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that Forestar Group will post 3.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in shares of Forestar Group by 1.1% during the 3rd quarter. Rhumbline Advisers now owns 42,573 shares of the oil and gas exploration company’s stock worth $1,132,000 after buying an additional 457 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Forestar Group by 5.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 9,946 shares of the oil and gas exploration company’s stock worth $245,000 after buying an additional 500 shares during the last quarter. Comerica Bank lifted its position in shares of Forestar Group by 76.5% during the 3rd quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 550 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Forestar Group by 1,206.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 917 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Forestar Group by 0.6% during the 2nd quarter. First Trust Advisors LP now owns 160,204 shares of the oil and gas exploration company’s stock worth $3,204,000 after buying an additional 952 shares during the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

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.