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

Forestar Group Inc (NYSE:FOR) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $31.75.

Several equities analysts have recently weighed in on FOR shares. JPMorgan Chase & Co. increased their price target on Forestar Group from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Zacks Research raised Forestar Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Wall Street Zen downgraded Forestar Group from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Citigroup increased their price objective on shares of Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a report on Thursday, January 22nd.

Forestar Group Stock Performance

Shares of FOR stock opened at $29.10 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $26.89 and a 200-day moving average price of $26.47. Forestar Group has a 52 week low of $18.00 and a 52 week high of $30.74. The firm has a market capitalization of $1.48 billion, a PE ratio of 8.90 and a beta of 1.43.

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. Forestar Group had a net margin of 9.90% and a return on equity of 9.76%. The company had revenue of $273.00 million for the quarter, compared to the consensus estimate of $265.48 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts expect that Forestar Group will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Forestar Group

A number of hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC purchased a new stake in shares of Forestar Group in the 4th quarter worth $225,000. NewEdge Advisors LLC grew its holdings in Forestar Group by 367.2% during the fourth quarter. NewEdge Advisors LLC now owns 17,166 shares of the oil and gas exploration company’s stock valued at $423,000 after purchasing an additional 13,492 shares during the period. XTX Topco Ltd purchased a new stake in Forestar Group in the fourth quarter worth about $266,000. SummitTX Capital L.P. raised its stake in shares of Forestar Group by 10.8% in the fourth quarter. SummitTX Capital L.P. now owns 170,822 shares of the oil and gas exploration company’s stock worth $4,207,000 after buying an additional 16,718 shares during the period. Finally, Susquehanna Portfolio Strategies LLC bought a new position in shares of Forestar Group in the fourth quarter worth about $207,000. 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.