Forestar Group (NYSE:FOR) Earns Neutral Rating from Analysts at BTIG Research

Equities research analysts at BTIG Research initiated coverage on shares of Forestar Group (NYSE:FOR) in a note issued to investors on Monday. The firm set a “neutral” rating on the oil and gas exploration company’s stock.

A number of other analysts also recently commented on the stock. Zacks Research raised shares of Forestar Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Citigroup lifted their price target on shares of Forestar Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Weiss Ratings restated a “hold (c)” rating on shares of Forestar Group in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded Forestar Group from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.75.

Forestar Group Stock Performance

Shares of FOR opened at $24.84 on Monday. The company’s 50 day simple moving average is $27.07 and its 200-day simple moving average is $26.22. The firm has a market cap of $1.26 billion, a PE ratio of 7.60 and a beta of 1.42. Forestar Group has a 12-month low of $18.00 and a 12-month high of $30.74. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44.

Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. Forestar Group had a net margin of 9.90% and a return on equity of 9.76%. The business had revenue of $273.00 million during the quarter, compared to the consensus estimate of $265.48 million. During the same quarter in the prior 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, equities analysts predict that Forestar Group will post 3.44 EPS for the current year.

Institutional Investors Weigh In On Forestar Group

Several hedge funds have recently modified their holdings of the company. Rhumbline Advisers grew its stake in shares of Forestar Group by 1.1% during the 3rd quarter. Rhumbline Advisers now owns 42,573 shares of the oil and gas exploration company’s stock valued at $1,132,000 after buying an additional 457 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Forestar Group by 5.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 9,946 shares of the oil and gas exploration company’s stock worth $245,000 after acquiring an additional 500 shares during the period. Comerica Bank grew its position in Forestar Group by 76.5% in the third quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 550 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Forestar Group by 1,206.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 917 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Forestar Group by 0.6% during the second quarter. First Trust Advisors LP now owns 160,204 shares of the oil and gas exploration company’s stock worth $3,204,000 after purchasing an additional 952 shares in the last quarter. 35.50% of the stock is owned by institutional investors and hedge funds.

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.