Brokerages Set Forestar Group Inc (NYSE:FOR) Target Price at $32.00

Forestar Group Inc (NYSE:FOR) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $32.00.

A number of research analysts have commented on the company. Wall Street Zen upgraded Forestar Group from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Citigroup increased their target price on Forestar Group from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Citizens Jmp raised their target price on Forestar Group from $30.00 to $35.00 and gave the company a “market outperform” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their target price on Forestar Group from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Zacks Research upgraded shares of Forestar Group from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th.

Hedge Funds Weigh In On Forestar Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swedbank AB boosted its holdings in Forestar Group by 400.0% in the third quarter. Swedbank AB now owns 500,000 shares of the oil and gas exploration company’s stock valued at $13,295,000 after purchasing an additional 400,000 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Forestar Group by 232.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 529,863 shares of the oil and gas exploration company’s stock worth $10,597,000 after buying an additional 370,685 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Forestar Group by 50.8% in the 1st quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock valued at $10,342,000 after buying an additional 164,753 shares in the last quarter. Nuveen LLC acquired a new position in shares of Forestar Group in the 1st quarter valued at $3,123,000. Finally, Alliancebernstein L.P. grew its position in shares of Forestar Group by 235.3% in the 3rd quarter. Alliancebernstein L.P. now owns 159,053 shares of the oil and gas exploration company’s stock valued at $4,229,000 after buying an additional 111,620 shares during the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Price Performance

Forestar Group stock opened at $26.64 on Friday. The company’s 50 day simple moving average is $25.45 and its 200-day simple moving average is $24.64. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 8.10 and a beta of 1.41. Forestar Group has a 1 year low of $18.00 and a 1 year high of $29.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.53. Forestar Group had a net margin of 10.11% and a return on equity of 10.08%. The firm had revenue of $670.50 million during the quarter, compared to analysts’ expectations of $556.59 million. During the same quarter last year, the company posted $1.60 EPS. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, equities research analysts expect that Forestar Group will post 3.44 earnings per share for the current year.

Forestar Group Company Profile

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.