Forestar Group Inc (NYSE:FOR) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Forestar Group Inc (NYSE:FOR) have been given an average recommendation of “Buy” by the five research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $30.20.

A number of research firms recently commented on FOR. Citigroup began coverage on Forestar Group in a report on Tuesday, July 15th. They issued an “outperform” rating on the stock. JMP Securities set a $30.00 price objective on Forestar Group and gave the stock a “market outperform” rating in a report on Tuesday, July 15th. BTIG Research dropped their price objective on Forestar Group from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Finally, Citizens Jmp began coverage on Forestar Group in a report on Tuesday, July 15th. They issued an “outperform” rating and a $30.00 price objective on the stock.

Forestar Group Price Performance

NYSE FOR opened at $26.03 on Friday. The stock’s 50-day moving average price is $22.01 and its two-hundred day moving average price is $21.49. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52. The company has a market cap of $1.32 billion, a PE ratio of 8.16 and a beta of 1.39. Forestar Group has a 1 year low of $18.00 and a 1 year high of $34.82.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.13). The company had revenue of $390.50 million for the quarter, compared to analyst estimates of $397.50 million. Forestar Group had a return on equity of 10.02% and a net margin of 10.54%. Forestar Group’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. On average, analysts predict that Forestar Group will post 3.44 EPS for the current year.

Insider Transactions at Forestar Group

In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 3,357 shares in the company, valued at $69,053.49. This represents a 30.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of Forestar Group

A number of hedge funds and other institutional investors have recently made changes to their positions in FOR. Allworth Financial LP boosted its holdings in Forestar Group by 3,273.8% in the second quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock valued at $28,000 after acquiring an additional 1,375 shares during the last quarter. Lazard Asset Management LLC bought a new position in Forestar Group in the fourth quarter valued at about $38,000. Signaturefd LLC boosted its holdings in Forestar Group by 119.1% in the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company’s stock valued at $32,000 after acquiring an additional 823 shares during the last quarter. NewEdge Advisors LLC bought a new position in Forestar Group in the fourth quarter valued at about $76,000. Finally, Strs Ohio bought a new position in Forestar Group in the first quarter valued at about $74,000. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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.