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

Shares of Forestar Group Inc (NYSE:FOR) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $32.00.

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Forestar Group from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Wall Street Zen raised shares of Forestar Group from a “hold” rating to a “buy” rating in a report on Friday, November 28th. JMP Securities set a $35.00 target price on shares of Forestar Group in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Forestar Group in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Forestar Group from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th.

Forestar Group Stock Performance

NYSE:FOR opened at $27.84 on Tuesday. The stock has a market capitalization of $1.42 billion, a P/E ratio of 8.46 and a beta of 1.42. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45. Forestar Group has a 1 year low of $18.00 and a 1 year high of $29.44. The firm has a 50 day moving average of $25.18 and a 200-day moving average of $25.48.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.53. Forestar Group had a return on equity of 10.08% and a net margin of 10.11%.The business had revenue of $670.50 million for the quarter, compared to analyst estimates of $556.59 million. During the same period in the prior year, the company earned $1.60 EPS. Forestar Group’s revenue for the quarter was up 21.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Forestar Group will post 3.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Forestar Group

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Forestar Group during the fourth quarter valued at $131,000. Assenagon Asset Management S.A. raised its holdings in Forestar Group by 5.3% during 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 purchasing an additional 500 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in 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 purchasing an additional 917 shares during the last quarter. Caxton Associates LLP acquired a new position in Forestar Group during the 3rd quarter valued at about $517,000. Finally, Dark Forest Capital Management LP boosted its stake in shares of Forestar Group by 38.9% in the 3rd quarter. Dark Forest Capital Management LP now owns 49,684 shares of the oil and gas exploration company’s stock valued at $1,321,000 after purchasing an additional 13,911 shares during the last quarter. Institutional investors own 35.50% of the company’s stock.

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.