Forestar Group Inc (NYSE:FOR) Receives Average Rating of “Hold” from Analysts

Shares of Forestar Group Inc (NYSE:FOR) have received an average rating of “Hold” from the six analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $32.6667.

A number of research firms recently weighed in on FOR. Weiss Ratings lowered Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, September 8th. Citizens Jmp restated a “market outperform” rating and set a $35.00 price objective on shares of Forestar Group in a report on Wednesday, July 22nd.

Institutional Investors Weigh In On Forestar Group

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of Forestar Group in the second quarter worth $33,000. Fifth Third Bancorp purchased a new position in shares of Forestar Group during the first quarter valued at $31,000. New York State Teachers Retirement System acquired a new position in Forestar Group during the first quarter valued at $44,000. Versant Capital Management Inc raised its position in Forestar Group by 74.0% during the second quarter. Versant Capital Management Inc now owns 2,727 shares of the oil and gas exploration company’s stock valued at $86,000 after buying an additional 1,160 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Forestar Group in the 2nd quarter worth about $171,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Down 0.8%

NYSE FOR opened at $25.93 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.44. The company’s 50 day simple moving average is $28.43 and its 200 day simple moving average is $27.67. Forestar Group has a 12 month low of $22.81 and a 12 month high of $32.06. The company has a market capitalization of $1.32 billion, a P/E ratio of 7.79 and a beta of 1.41.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share (EPS) 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 business had revenue of $407.00 million during the quarter, compared to analyst estimates of $437.73 million. During the same quarter last year, the firm posted $0.65 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year.

About Forestar Group

Forestar Group Inc (NYSE:FOR) is a residential lot development company headquartered in Arlington, Texas. The company acquires and develops land into finished or partially finished residential lots, which it sells primarily to homebuilders for the construction of single-family homes.

Forestar’s activities generally include land acquisition, entitlement, planning, development and infrastructure installation, such as roads, utilities and other improvements needed to prepare communities for home construction.