Forestar Group Inc (NYSE:FOR) Short Interest Update

Forestar Group Inc (NYSE:FOR) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 480,975 shares, a decline of 14.8% from the December 31st total of 564,370 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 148,922 shares, the days-to-cover ratio is currently 3.2 days. Based on an average daily trading volume, of 148,922 shares, the days-to-cover ratio is currently 3.2 days. Currently, 0.9% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

FOR has been the subject of a number of recent analyst reports. Citizens Jmp upped their target price on Forestar Group from $30.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 29th. Wall Street Zen lowered Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Zacks Research raised Forestar Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. JMP Securities set a $35.00 target price on Forestar Group in a report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Forestar Group has a consensus rating of “Moderate Buy” and an average target price of $32.40.

Forestar Group Stock Up 2.1%

Shares of NYSE:FOR traded up $0.57 during midday trading on Tuesday, hitting $27.49. 299,272 shares of the stock were exchanged, compared to its average volume of 169,669. The business’s fifty day simple moving average is $25.81 and its two-hundred day simple moving average is $26.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. Forestar Group has a 52-week low of $18.00 and a 52-week high of $29.44. The company has a market capitalization of $1.40 billion, a PE ratio of 8.41 and a beta of 1.43.

Forestar Group (NYSE:FOR) last announced its quarterly earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. Forestar Group had a return on equity of 9.76% and a net margin of 9.90%.The company had revenue of $273.00 million during the quarter, compared to analysts’ expectations of $265.48 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, research analysts predict that Forestar Group will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forestar Group

Institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its stake in Forestar Group by 1,206.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock valued at $26,000 after buying an additional 917 shares during the period. Allworth Financial LP grew its position in shares of Forestar Group by 3,273.8% during the 2nd quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock worth $28,000 after purchasing an additional 1,375 shares in the last quarter. Comerica Bank grew its position in Forestar Group by 76.5% during the third quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 550 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Forestar Group by 201.1% during 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 purchasing an additional 1,406 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Forestar Group by 43.1% during the 2nd quarter. Signaturefd LLC now owns 2,166 shares of the oil and gas exploration company’s stock worth $43,000 after acquiring 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.