Forestar Group (NYSE:FOR) Given New $35.00 Price Target at Citizens Jmp

Forestar Group (NYSE:FOR) had its target price raised by Citizens Jmp from $30.00 to $35.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a market outperform rating on the oil and gas exploration company’s stock.

Several other research firms also recently weighed in on FOR. JMP Securities set a $35.00 price objective on Forestar Group in a report on Wednesday. Zacks Research raised Forestar Group from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. Citigroup reissued a “market outperform” rating on shares of Forestar Group in a report on Wednesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.20.

Forestar Group Stock Performance

Shares of FOR opened at $26.97 on Wednesday. The stock has a 50 day moving average price of $26.82 and a 200 day moving average price of $23.36. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 8.20 and a beta of 1.44. Forestar Group has a 52-week low of $18.00 and a 52-week high of $33.34.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.53. The business had revenue of $670.50 million during the quarter, compared to the consensus estimate of $556.59 million. Forestar Group had a return on equity of 10.08% and a net margin of 10.11%.The company’s revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 earnings per share. Forestar Group has set its FY 2026 guidance at EPS. Research analysts predict that Forestar Group will post 3.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Forestar Group

Hedge funds have recently modified their holdings of the stock. MQS Management LLC acquired a new stake in shares of Forestar Group during the first quarter worth $379,000. Royal Bank of Canada lifted its holdings in shares of Forestar Group by 27.6% during the first quarter. Royal Bank of Canada now owns 487,582 shares of the oil and gas exploration company’s stock worth $10,308,000 after purchasing an additional 105,361 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Forestar Group by 19.0% during the first quarter. New York State Common Retirement Fund now owns 89,581 shares of the oil and gas exploration company’s stock worth $1,894,000 after purchasing an additional 14,300 shares during the period. American Century Companies Inc. lifted its holdings in shares of Forestar Group by 8.2% during the first quarter. American Century Companies Inc. now owns 632,145 shares of the oil and gas exploration company’s stock worth $13,364,000 after purchasing an additional 47,923 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its holdings in shares of Forestar Group by 55.2% during the first quarter. KLP Kapitalforvaltning AS now owns 29,800 shares of the oil and gas exploration company’s stock worth $630,000 after purchasing an additional 10,600 shares during the period. 35.50% of the stock is owned by institutional investors and hedge funds.

About Forestar Group

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.