Forestar Group Inc (NYSE:FOR) Receives $30.25 Average Target Price from Analysts

Forestar Group Inc (NYSE:FOR) has received an average rating of “Buy” from the five analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $30.20.

A number of analysts have recently issued reports on FOR shares. JMP Securities set a $30.00 price target on shares of Forestar Group and gave the stock a “market outperform” rating in a research report on Tuesday. Citigroup assumed coverage on Forestar Group in a research report on Tuesday. They issued an “outperform” rating for the company. Citizens Jmp started coverage on Forestar Group in a report on Tuesday. They set a “strong-buy” rating and a $30.00 price objective for the company. Finally, BTIG Research lowered their target price on Forestar Group from $36.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, April 21st.

Forestar Group Stock Down 0.1%

FOR stock opened at $22.06 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.73 and a quick ratio of 0.73. Forestar Group has a 1-year low of $18.00 and a 1-year high of $34.82. The firm has a fifty day moving average price of $20.30 and a two-hundred day moving average price of $21.60. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 6.69 and a beta of 1.40.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.07). Forestar Group had a return on equity of 10.65% and a net margin of 11.45%. The company had revenue of $351.00 million during the quarter, compared to analyst estimates of $379.60 million. Research analysts predict that Forestar Group will post 3.44 EPS for the current year.

Insider Buying and Selling at Forestar Group

In related news, Director Elizabeth Parmer sold 1,460 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $20.57, for a total transaction of $30,032.20. Following the transaction, the director directly owned 3,357 shares of the company’s stock, valued at approximately $69,053.49. The trade was a 30.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in Forestar Group by 50.8% in the first quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock valued at $10,342,000 after purchasing an additional 164,753 shares during the last quarter. Nuveen LLC acquired a new stake in Forestar Group in the first quarter valued at approximately $3,123,000. Dimensional Fund Advisors LP grew its stake in Forestar Group by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company’s stock valued at $70,541,000 after acquiring an additional 119,357 shares during the period. Royal Bank of Canada lifted its holdings in shares of Forestar Group by 27.6% in the first quarter. Royal Bank of Canada now owns 487,582 shares of the oil and gas exploration company’s stock valued at $10,308,000 after purchasing an additional 105,361 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Forestar Group by 406.1% in the fourth quarter. Janus Henderson Group PLC now owns 125,408 shares of the oil and gas exploration company’s stock valued at $3,247,000 after purchasing an additional 100,629 shares in the last quarter. 35.50% of the stock is owned by institutional investors and hedge funds.

About Forestar Group

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.