Forestar Group (NYSE:FOR) Stock Passes Above 200 Day Moving Average – What’s Next?

Forestar Group Inc (NYSE:FOR)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $25.87 and traded as high as $26.36. Forestar Group shares last traded at $26.0550, with a volume of 218,296 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FOR. JMP Securities set a $35.00 price objective on Forestar Group in a research note on Wednesday, October 29th. Wall Street Zen downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Citigroup lifted their price target on shares of Forestar Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Forestar Group in a research report on Thursday, January 22nd. Finally, Citizens Jmp raised their target price on shares of Forestar Group from $30.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 29th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Forestar Group has an average rating of “Moderate Buy” and a consensus target price of $32.40.

Forestar Group Stock Up 0.8%

The company has a market cap of $1.33 billion, a price-to-earnings ratio of 7.97 and a beta of 1.42. The stock has a 50-day simple moving average of $25.72 and a 200-day simple moving average of $25.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44.

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

Institutional Investors Weigh In On Forestar Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Forestar Group during the 3rd quarter valued at $2,003,000. Dimension Capital Management LLC purchased a new stake in shares of Forestar Group during the second quarter valued at $1,512,000. Swedbank AB boosted its position in shares of Forestar Group by 400.0% in the 3rd quarter. Swedbank AB now owns 500,000 shares of the oil and gas exploration company’s stock valued at $13,295,000 after purchasing an additional 400,000 shares during the period. KLP Kapitalforvaltning AS boosted its position in shares of Forestar Group by 13.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 33,800 shares of the oil and gas exploration company’s stock valued at $676,000 after purchasing an additional 4,000 shares during the period. Finally, CWM LLC raised its holdings in Forestar Group by 587.7% during the 2nd quarter. CWM LLC now owns 15,204 shares of the oil and gas exploration company’s stock worth $304,000 after buying an additional 12,993 shares during the period. Institutional investors own 35.50% of the company’s stock.

Forestar Group Company Profile

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.