Forestar Group Inc (NYSE:FOR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Forestar Group Inc (NYSE:FOR) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $30.20.

A number of analysts have recently issued reports on FOR shares. Citigroup began coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They issued an “outperform” rating for the company. Zacks Research raised Forestar Group from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. Citizens Jmp assumed coverage on Forestar Group in a research note on Tuesday, July 15th. They issued an “outperform” rating and a $30.00 price objective for the company. JMP Securities set a $30.00 price target on Forestar Group and gave the stock a “market outperform” rating in a report on Tuesday, July 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Forestar Group in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FOR. Allworth Financial LP boosted its stake in Forestar Group by 3,273.8% during 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 buying an additional 1,375 shares during the last quarter. Signaturefd LLC boosted its position in shares of Forestar Group by 119.1% during the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company’s stock valued at $32,000 after buying an additional 823 shares during the period. Tower Research Capital LLC TRC increased its stake in Forestar Group by 201.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company’s stock worth $42,000 after purchasing an additional 1,406 shares during the period. Parallel Advisors LLC lifted its holdings in Forestar Group by 237.1% during 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 buying an additional 2,485 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Forestar Group during the first quarter valued at approximately $74,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Performance

Shares of FOR opened at $26.21 on Thursday. The business has a 50-day simple moving average of $26.87 and a two-hundred day simple moving average of $23.07. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52. Forestar Group has a 52 week low of $18.00 and a 52 week high of $34.82. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 8.22 and a beta of 1.44.

Forestar Group (NYSE:FOR) last announced 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 analysts’ consensus estimates of $0.78 by ($0.13). Forestar Group had a net margin of 10.54% and a return on equity of 10.02%. The company had revenue of $390.50 million for the quarter, compared to the consensus estimate of $397.50 million. During the same quarter last year, the firm posted $0.76 earnings per share. The company’s revenue was up 22.6% compared to the same quarter last year. On average, analysts expect that Forestar Group will post 3.44 EPS for the current year.

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.