Forestar Group (NYSE:FOR) Earns Strong-Buy Rating from Analysts at Citizens Jmp

Citizens Jmp initiated coverage on shares of Forestar Group (NYSE:FOR) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a strong-buy rating and a $30.00 price objective on the oil and gas exploration company’s stock.

A number of other brokerages have also recently commented on FOR. JMP Securities set a $30.00 price objective on Forestar Group and gave the stock a “market outperform” rating in a research note on Tuesday. BTIG Research reduced their price objective on shares of Forestar Group from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.20.

Forestar Group Stock Performance

NYSE FOR opened at $22.06 on Tuesday. The company has a market capitalization of $1.12 billion, a PE ratio of 6.69 and a beta of 1.40. Forestar Group has a twelve month low of $18.00 and a twelve month high of $34.82. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $20.30 and its 200 day moving average price is $21.60.

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

Insider Activity

In related news, Director Elizabeth Parmer sold 1,460 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $20.57, for a total value of $30,032.20. Following the sale, the director owned 3,357 shares of the company’s stock, valued at $69,053.49. This trade represents a 30.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Forestar Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in shares of Forestar Group by 43.1% in the second quarter. Signaturefd LLC now owns 2,166 shares of the oil and gas exploration company’s stock valued at $43,000 after acquiring an additional 652 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Forestar Group by 34.9% during the second quarter. Public Employees Retirement System of Ohio now owns 24,806 shares of the oil and gas exploration company’s stock valued at $496,000 after buying an additional 6,421 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Forestar Group by 237.1% in the 2nd quarter. Parallel Advisors LLC now owns 3,533 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 2,485 shares during the period. Swedbank AB increased its stake in Forestar Group by 100.0% in the 1st quarter. Swedbank AB now owns 100,000 shares of the oil and gas exploration company’s stock valued at $2,114,000 after buying an additional 50,000 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Forestar Group during the first quarter worth $74,000. 35.50% of the stock is owned by institutional investors.

Forestar Group Company Profile

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.