Forestar Group (NYSE:FOR) Raised to “Buy” at Wall Street Zen

Forestar Group (NYSE:FOR) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Friday.

Other analysts have also issued research reports about the company. Zacks Research upgraded Forestar Group from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. Citizens Jmp upped their target price on Forestar Group from $30.00 to $35.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a report on Wednesday, October 8th. Citigroup upped their price objective on shares of Forestar Group from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Forestar Group from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Forestar Group Stock Down 1.0%

NYSE:FOR traded down $0.27 during trading hours on Friday, reaching $25.52. The company’s stock had a trading volume of 54,465 shares, compared to its average volume of 176,628. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.73 and a current ratio of 1.33. The company has a market capitalization of $1.30 billion, a P/E ratio of 7.76 and a beta of 1.43. Forestar Group has a 12 month low of $18.00 and a 12 month high of $30.59. The stock has a 50 day moving average price of $25.51 and a two-hundred day moving average price of $24.13.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FOR. Royal Bank of Canada boosted its position in Forestar Group by 27.6% in the first quarter. Royal Bank of Canada now owns 487,582 shares of the oil and gas exploration company’s stock valued at $10,308,000 after buying an additional 105,361 shares during the last quarter. American Century Companies Inc. raised its position in Forestar Group by 8.2% during the 1st quarter. American Century Companies Inc. now owns 632,145 shares of the oil and gas exploration company’s stock worth $13,364,000 after buying an additional 47,923 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Forestar Group by 50.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 56,938 shares of the oil and gas exploration company’s stock valued at $1,204,000 after acquiring an additional 19,008 shares during the period. LPL Financial LLC boosted its holdings in shares of Forestar Group by 5.2% in the 1st quarter. LPL Financial LLC now owns 130,642 shares of the oil and gas exploration company’s stock valued at $2,762,000 after acquiring an additional 6,460 shares during the last quarter. Finally, Swedbank AB increased its stake in shares of Forestar Group by 100.0% in the first quarter. Swedbank AB now owns 100,000 shares of the oil and gas exploration company’s stock worth $2,114,000 after acquiring an additional 50,000 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.