Analysts Set Forestar Group Inc (NYSE:FOR) Price Target at $32.67

Forestar Group Inc (NYSE:FOR) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $32.6667.

A number of equities analysts have recently weighed in on the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $35.00 price objective on shares of Forestar Group in a research note on Wednesday, July 22nd. Weiss Ratings raised Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th.

Forestar Group Stock Up 0.1%

Shares of FOR stock opened at $28.93 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.44. Forestar Group has a one year low of $22.81 and a one year high of $32.06. The company’s fifty day moving average price is $29.54 and its 200-day moving average price is $27.93. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 8.69 and a beta of 1.41.

Forestar Group (NYSE:FOR) last issued its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.11). Forestar Group had a return on equity of 9.42% and a net margin of 9.88%.The firm had revenue of $407.00 million during the quarter, compared to the consensus estimate of $437.73 million. During the same period in the prior year, the company posted $0.65 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis.

Institutional Investors Weigh In On Forestar Group

A number of institutional investors have recently added to or reduced their stakes in FOR. Comerica Bank boosted its position in shares of 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 valued at $34,000 after buying an additional 550 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of Forestar Group by 3.4% in the first quarter. Glenmede Trust Co. NA now owns 21,687 shares of the oil and gas exploration company’s stock worth $530,000 after buying an additional 714 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Forestar Group by 1,206.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 917 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Forestar Group by 0.6% during the 2nd quarter. First Trust Advisors LP now owns 160,204 shares of the oil and gas exploration company’s stock worth $3,204,000 after acquiring an additional 952 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in Forestar Group during the 2nd quarter valued at $33,000. 35.50% of the stock is owned by hedge funds and other institutional investors.

About Forestar Group

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.