Forestar Group Inc (FOR) – What Are Brokerages Thinking About This Stock?

Shares of Forestar Group Inc (NYSE:FOR) have been assigned a consensus recommendation of “Hold” from the five brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $36.50.

A number of brokerages recently issued reports on FOR. Citizens Jmp reissued a “market outperform” rating and issued a $35.00 price objective on shares of Forestar Group in a report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 23rd.

Insiders Place Their Bets

In other news, Director Lisa Jamieson sold 3,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $24.77, for a total value of $74,310.00. Following the completion of the sale, the director owned 23,105 shares of the company’s stock, valued at $572,310.85. This represents a 11.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.51% of the stock is owned by insiders.

Institutional Trading of Forestar Group

Several institutional investors have recently made changes to their positions in the company. Allworth Financial LP acquired a new position in shares of Forestar Group in the 2nd quarter worth approximately $33,000. Fifth Third Bancorp purchased a new position in shares of Forestar Group during the 1st quarter worth approximately $31,000. New York State Teachers Retirement System acquired a new stake in Forestar Group in the 1st quarter valued at approximately $44,000. Versant Capital Management Inc increased its holdings in Forestar Group by 74.0% in the 2nd quarter. Versant Capital Management Inc now owns 2,727 shares of the oil and gas exploration company’s stock valued at $86,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Forestar Group by 85.1% in the third quarter. Nisa Investment Advisors LLC now owns 3,424 shares of the oil and gas exploration company’s stock valued at $88,000 after purchasing an additional 1,574 shares during the period. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Up 0.4%

Shares of NYSE:FOR opened at $23.79 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.22 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $26.01 and a two-hundred day moving average of $27.35. The stock has a market cap of $1.21 billion, a P/E ratio of 8.56 and a beta of 1.43. Forestar Group has a 52-week low of $22.81 and a 52-week high of $32.06.

Forestar Group (NYSE:FOR) last issued its earnings results on Thursday, October 29th. The oil and gas exploration company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.10). Forestar Group had a return on equity of 7.73% and a net margin of 8.72%. The company had revenue of $580.80 million during the quarter, compared to analyst estimates of $603.10 million. During the same period last year, the business earned $1.70 earnings per share. The firm’s revenue was down 13.4% compared to the same quarter last year.

Forestar Group Company Profile

Forestar Group Inc (NYSE: FOR) is a residential lot development company that acquires, entitles and develops land for housing construction. The company sells finished and partially developed residential lots to homebuilders, including its majority shareholder, D.R. Horton, as well as other national, regional and local builders.

Forestar’s activities generally include identifying land opportunities, obtaining development approvals, installing infrastructure and managing the construction of roads, utilities and other improvements needed for residential communities.