Forestar Group (NYSE:FOR) Upgraded to “Buy” by StockNews.com

Forestar Group (NYSE:FOR – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Several other research firms have also commented on FOR. BTIG Research reaffirmed a “buy” rating and set a $24.00 target price on shares of Forestar Group in a report on Friday. Zacks Investment Research lowered Forestar Group from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th.

Forestar Group stock traded up $0.56 during midday trading on Monday, hitting $17.15. 84,877 shares of the company were exchanged, compared to its average volume of 94,850. The company has a market cap of $851.94 million, a price-to-earnings ratio of 5.76 and a beta of 1.91. Forestar Group has a fifty-two week low of $15.77 and a fifty-two week high of $25.79. The stock’s fifty day simple moving average is $17.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.70 and a quick ratio of 0.70.

Forestar Group (NYSE:FOR – Get Rating) last posted its earnings results on Thursday, April 21st. The oil and gas exploration company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.73 by $0.29. Forestar Group had a return on equity of 16.00% and a net margin of 9.49%. During the same quarter last year, the business earned $0.59 EPS. Equities research analysts expect that Forestar Group will post 3.6 earnings per share for the current year.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position 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 valued at $760,000 after acquiring an additional 596 shares in the last quarter. California State Teachers Retirement System lifted its position 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 valued at $519,000 after acquiring an additional 694 shares in the last quarter. Royal Bank of Canada lifted its position 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 valued at $68,000 after acquiring an additional 778 shares in the last quarter. Invesco Ltd. lifted its position 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 valued at $667,000 after acquiring an additional 838 shares in the last quarter. Finally, Credit Suisse AG lifted its position in shares of Forestar Group by 6.6% in the fourth quarter. Credit Suisse AG now owns 14,320 shares of the oil and gas exploration company’s stock valued at $312,000 after acquiring an additional 881 shares in the last quarter. Institutional investors and hedge funds own 32.07% of the company’s stock.

About Forestar Group (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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