Zacks Investment Research upgraded shares of Forestar Group Inc. (NYSE:FOR) from a hold rating to a buy rating in a report released on Tuesday morning. They currently have $13.00 target price on the oil and gas exploration company’s stock.

According to Zacks, “Forestar Group, Inc. formerly known as Forestar Real Estate Group Inc. operates in two business segments: real estate and natural resources. The real estate segment owns directly or through ventures real estate. The natural resources segment manages acres of oil and gas mineral interests. In addition, the company also sells wood fiber from its land primarily located in Georgia, and leases land for recreational uses. “

Shares of Forestar Group (NYSE:FOR) traded up 0.09% on Tuesday, hitting $11.24. 5,307 shares of the company were exchanged. The company has a 50-day moving average price of $11.89 and a 200 day moving average price of $12.27. The firm’s market cap is $385.54 million. Forestar Group has a 52-week low of $7.95 and a 52-week high of $14.87.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Friday, July 29th. The oil and gas exploration company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.13. The firm had revenue of $46.40 million for the quarter, compared to analysts’ expectations of $44.80 million. Forestar Group had a negative net margin of 66.84% and a positive return on equity of 7.06%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 EPS. Analysts predict that Forestar Group will post $0.30 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Arizona State Retirement System raised its position in Forestar Group by 1.2% in the second quarter. Arizona State Retirement System now owns 17,586 shares of the oil and gas exploration company’s stock worth $209,000 after buying an additional 200 shares during the period. Stifel Financial Corp raised its position in Forestar Group by 2.5% in the second quarter. Stifel Financial Corp now owns 11,049 shares of the oil and gas exploration company’s stock worth $131,000 after buying an additional 269 shares during the period. California State Teachers Retirement System raised its position in Forestar Group by 0.6% in the second quarter. California State Teachers Retirement System now owns 71,685 shares of the oil and gas exploration company’s stock worth $852,000 after buying an additional 438 shares during the period. Prudential Financial Inc. raised its position in Forestar Group by 0.8% in the second quarter. Prudential Financial Inc. now owns 80,709 shares of the oil and gas exploration company’s stock worth $960,000 after buying an additional 660 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its position in Forestar Group by 4.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 26,542 shares of the oil and gas exploration company’s stock worth $316,000 after buying an additional 1,112 shares during the period.

About Forestar Group

Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties.

5 Day Chart for NYSE:FOR

Receive News & Stock Ratings for Forestar Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forestar Group Inc. and related stocks with our FREE daily email newsletter.