Forestar Group (NYSE:FOR) Now Covered by Analysts at BTIG Research

BTIG Research began coverage on shares of Forestar Group (NYSE:FOR) in a report published on Monday. The brokerage issued a neutral rating on the oil and gas exploration company’s stock.

Other equities analysts have also issued reports about the stock. Citigroup lifted their target price on shares of Forestar Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Wall Street Zen lowered Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a report on Thursday, January 22nd. Finally, Zacks Research raised Forestar Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.75.

Forestar Group Stock Performance

Shares of FOR stock opened at $24.06 on Monday. The stock has a fifty day moving average of $27.00 and a 200 day moving average of $26.19. 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 $1.22 billion, a price-to-earnings ratio of 7.36 and a beta of 1.42. The company has a quick ratio of 0.71, a current 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 (EPS) 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 business had revenue of $273.00 million for the quarter, compared to the consensus estimate of $265.48 million. During the same period in the previous year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, research analysts expect that Forestar Group will post 3.44 earnings per share for the current year.

Hedge Funds Weigh In On Forestar Group

Hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Forestar Group in the 3rd quarter worth $2,003,000. Dimension Capital Management LLC purchased a new position in shares of Forestar Group in the second quarter worth $1,512,000. Swedbank AB lifted its holdings in shares of Forestar Group by 400.0% during the third 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Forestar Group by 4.1% during the third quarter. Vanguard Group Inc. now owns 2,769,594 shares of the oil and gas exploration company’s stock valued at $73,644,000 after purchasing an additional 110,286 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Forestar Group by 232.8% during the second quarter. Creative Planning now owns 35,067 shares of the oil and gas exploration company’s stock valued at $701,000 after buying an additional 24,531 shares during the last quarter. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

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.