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

Forestar Group Inc (NYSE:FOR) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $32.40.

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Forestar Group from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Citigroup boosted their price objective on Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday. JMP Securities set a $35.00 target price on shares of Forestar Group in a research note on Wednesday, October 29th. Wall Street Zen lowered shares of Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Citizens Jmp increased their price target 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.

Forestar Group Price Performance

FOR stock opened at $26.06 on Friday. The firm has a 50 day moving average of $25.72 and a 200-day moving average of $25.87. The firm has a market capitalization of $1.33 billion, a P/E ratio of 7.97 and a beta of 1.42. Forestar Group has a 12 month low of $18.00 and a 12 month high of $29.44. 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 posted its earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $265.48 million. During the same period in the prior year, the company posted $0.32 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that Forestar Group will post 3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FOR. Caitong International Asset Management Co. Ltd lifted its stake in Forestar Group by 1,206.6% during the third 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 during the last quarter. Comerica Bank raised its holdings in shares of Forestar Group by 76.5% during the 3rd quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 550 shares in the last quarter. Allworth Financial LP lifted its position in Forestar Group by 3,273.8% in the 2nd quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock worth $28,000 after buying an additional 1,375 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Forestar Group by 201.1% in the 2nd 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 during the last quarter. Finally, Signaturefd LLC boosted its stake in 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 buying an additional 652 shares in the last quarter. 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.