Forestar Group (NYSE:FOR) Receives “Buy” Rating from BTIG Research

Forestar Group (NYSE:FORGet Rating)‘s stock had its “buy” rating reissued by analysts at BTIG Research in a research report issued to clients and investors on Friday, TipRanks reports. They presently have a $24.00 price objective on the oil and gas exploration company’s stock. BTIG Research’s target price indicates a potential upside of 44.67% from the company’s current price.

Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Forestar Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. StockNews.com initiated coverage on shares of Forestar Group in a research report on Thursday, March 31st. They issued a “hold” rating for the company.

Shares of FOR traded down $0.08 during mid-day trading on Friday, hitting $16.59. 101,315 shares of the company traded hands, compared to its average volume of 94,948. The stock has a 50-day moving average price of $17.55 and a two-hundred day moving average price of $19.33. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $824.12 million, a price-to-earnings ratio of 6.36 and a beta of 1.91. Forestar Group has a 1 year low of $15.77 and a 1 year high of $25.79.

Forestar Group (NYSE:FORGet Rating) last announced its earnings results on Thursday, April 21st. The oil and gas exploration company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.29. Forestar Group had a net margin of 9.02% and a return on equity of 14.34%. During the same quarter last year, the business earned $0.59 earnings per share. On average, analysts forecast that Forestar Group will post 3.6 EPS for the current year.

In other news, CEO Daniel C. Bartok bought 2,000 shares of Forestar Group stock in a transaction dated Monday, January 31st. The shares were acquired at an average price of $19.76 per share, with a total value of $39,520.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Forestar Group by 1.7% in the second quarter. Bank of America Corp DE now owns 36,353 shares of the oil and gas exploration company’s stock worth $760,000 after purchasing an additional 596 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Forestar Group by 3.0% in the fourth quarter. California State Teachers Retirement System now owns 23,848 shares of the oil and gas exploration company’s stock worth $519,000 after purchasing an additional 694 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Forestar Group by 27.4% in the third quarter. Royal Bank of Canada now owns 3,617 shares of the oil and gas exploration company’s stock worth $68,000 after purchasing an additional 778 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Forestar Group by 2.8% in the fourth quarter. Invesco Ltd. now owns 30,673 shares of the oil and gas exploration company’s stock worth $667,000 after purchasing an additional 838 shares during the last quarter. Finally, Credit Suisse AG grew its holdings in Forestar Group by 6.6% during the 4th quarter. Credit Suisse AG now owns 14,320 shares of the oil and gas exploration company’s stock worth $312,000 after acquiring an additional 881 shares in the last quarter. 32.07% of the stock is currently owned by institutional investors and hedge funds.

Forestar Group Company Profile (Get Rating)

Forestar Group Inc operates as a residential lot development company in the United States. The acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to homebuilders. The company is headquartered in Arlington, Texas. Forestar Group Inc is a subsidiary of D.R.

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