Brokerages Set Forestar Group Inc (NYSE:FOR) Price Target at $32.67

Shares of Forestar Group Inc (NYSE:FOR) have received an average rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $32.6667.

A number of equities analysts have recently commented on the stock. Weiss Ratings cut shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. Citizens Jmp reiterated a “market outperform” rating and set a $35.00 price target on shares of Forestar Group in a research note on Wednesday, July 22nd.

Forestar Group Trading Up 0.4%

NYSE:FOR opened at $26.93 on Friday. The stock has a 50-day simple moving average of $28.68 and a 200-day simple moving average of $27.72. The stock has a market cap of $1.37 billion, a P/E ratio of 8.09 and a beta of 1.41. Forestar Group has a 1 year low of $22.81 and a 1 year high of $32.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.44 and a current ratio of 1.44.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.11). Forestar Group had a return on equity of 9.42% and a net margin of 9.88%.The company had revenue of $407.00 million for the quarter, compared to analyst estimates of $437.73 million. During the same period in the previous year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year.

Institutional Investors Weigh In On Forestar Group

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Forestar Group during the second quarter worth about $56,174,000. Heartland Advisors Inc. purchased a new stake in Forestar Group during the 2nd quarter valued at approximately $15,028,000. Jupiter Topco LLC purchased a new stake in Forestar Group during the 2nd quarter valued at approximately $8,459,000. Bank of New York Mellon Corp acquired a new stake in Forestar Group during the 2nd quarter worth approximately $7,214,000. Finally, Empowered Funds LLC purchased a new position in shares of Forestar Group in the 2nd quarter valued at approximately $5,269,000. 35.50% of the stock is owned by hedge funds and other institutional investors.

Forestar Group Company Profile

Forestar Group Inc (NYSE:FOR) is a residential lot development company headquartered in Arlington, Texas. The company acquires and develops land into finished or partially finished residential lots, which it sells primarily to homebuilders for the construction of single-family homes.

Forestar’s activities generally include land acquisition, entitlement, planning, development and infrastructure installation, such as roads, utilities and other improvements needed to prepare communities for home construction.