Forestar Group Inc (NYSE:FOR) Stock Has Average Price Target of $32.67 According to Analysts

Shares of Forestar Group Inc (NYSE:FOR) have been given an average rating of “Hold” by the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $36.50.

FOR has been the topic of a number of research analyst reports. Citizens Jmp reiterated a “market outperform” rating and issued a $35.00 target price on shares of Forestar Group in a research note on Wednesday, July 22nd. Weiss Ratings lowered shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 23rd.

Forestar Group Trading Up 6.2%

Shares of Forestar Group stock opened at $24.95 on Monday. The firm has a market cap of $1.27 billion, a PE ratio of 8.45 and a beta of 1.43. Forestar Group has a 1 year low of $22.81 and a 1 year high of $32.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.22 and a quick ratio of 1.44. The stock has a fifty day moving average price of $26.20 and a 200-day moving average price of $27.37.

Forestar Group (NYSE:FOR) last issued its quarterly earnings results on Thursday, October 29th. The oil and gas exploration company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.10). The company had revenue of $580.80 million during the quarter, compared to analysts’ expectations of $603.10 million. Forestar Group had a return on equity of 7.73% and a net margin of 8.72%. Forestar Group’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period last year, the firm posted $1.70 earnings per share.

Hedge Funds Weigh In On Forestar Group

Several institutional investors and hedge funds have recently bought and sold shares of FOR. BlackRock Inc. purchased a new stake in Forestar Group in the 2nd quarter worth about $56,174,000. Heartland Advisors Inc. purchased a new stake in Forestar Group during the second quarter valued at about $15,028,000. Jupiter Topco LLC purchased a new stake in Forestar Group during the second quarter valued at about $8,459,000. Bank of New York Mellon Corp purchased a new stake in Forestar Group during the second quarter valued at about $7,214,000. Finally, Empowered Funds LLC bought a new position in Forestar Group during the second quarter worth about $5,269,000. 35.50% of the stock is owned by institutional investors.

Forestar Group Company Profile

Forestar Group Inc (NYSE: FOR) is a residential lot development company that acquires, entitles and develops land for housing construction. The company sells finished and partially developed residential lots to homebuilders, including its majority shareholder, D.R. Horton, as well as other national, regional and local builders.

Forestar’s activities generally include identifying land opportunities, obtaining development approvals, installing infrastructure and managing the construction of roads, utilities and other improvements needed for residential communities.