Forestar Group (NYSE:FOR) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Forestar Group (NYSE:FOR) from a buy rating to a hold rating in a report issued on Friday morning.

Other research analysts have also recently issued research reports about the company. Zacks Research upgraded Forestar Group from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Citigroup upped their price target on shares of Forestar Group from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. JMP Securities set a $35.00 price objective on shares of Forestar Group in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Forestar Group from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.00.

Forestar Group Price Performance

Shares of FOR opened at $24.83 on Friday. The company has a current ratio of 0.71, a quick ratio of 1.33 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $25.53 and its two-hundred day moving average is $25.76. Forestar Group has a twelve month low of $18.00 and a twelve month high of $29.44. The firm has a market capitalization of $1.26 billion, a PE ratio of 7.59 and a beta of 1.42.

Forestar Group (NYSE:FOR) last issued its earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $273.00 million during the quarter, compared to the consensus estimate of $265.48 million. Forestar Group had a return on equity of 9.76% and a net margin of 9.90%.During the same period in the prior year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts anticipate that Forestar Group will post 3.44 earnings per share for the current year.

Institutional Trading of Forestar Group

Several institutional investors and hedge funds have recently modified their holdings of FOR. Caitong International Asset Management Co. Ltd increased its stake in shares of Forestar Group by 1,206.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 917 shares in the last quarter. Allworth Financial LP grew its holdings in Forestar Group by 3,273.8% during the 2nd 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. Comerica Bank increased its position in Forestar Group by 76.5% during the third quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 550 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Forestar Group by 201.1% during 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 buying an additional 1,406 shares in the last quarter. Finally, Signaturefd LLC raised 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 worth $43,000 after acquiring an additional 652 shares during the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

About Forestar Group

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.