Forestar Group (NYSE:FOR) Price Target Raised to $36.00 at Citigroup

Forestar Group (NYSE:FOR) had its price objective lifted by Citigroup from $33.00 to $36.00 in a research note released on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the oil and gas exploration company’s stock.

Several other research analysts have also commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a research note on Wednesday, October 8th. JMP Securities set a $35.00 target price on shares of Forestar Group in a research note on Wednesday. Citizens Jmp upped their target price on shares of Forestar Group from $30.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Finally, Zacks Research raised shares of Forestar Group from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.00.

Forestar Group Price Performance

Shares of FOR opened at $26.21 on Thursday. Forestar Group has a 1-year low of $18.00 and a 1-year high of $33.06. The stock has a market cap of $1.33 billion, a PE ratio of 7.97 and a beta of 1.44. The firm has a 50-day simple moving average of $26.81 and a two-hundred day simple moving average of $23.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 0.73.

Forestar Group (NYSE:FOR) last announced its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $1.70 earnings per share for the quarter, beating 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 business had revenue of $670.50 million during the quarter, compared to analysts’ expectations of $556.59 million. During the same period last year, the business earned $1.60 earnings per share. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. Forestar Group has set its FY 2026 guidance at EPS. As a group, analysts forecast that Forestar Group will post 3.44 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. MQS Management LLC acquired a new position in shares of Forestar Group in the 1st quarter valued at $379,000. Royal Bank of Canada boosted its holdings in shares of Forestar Group by 27.6% in the 1st quarter. Royal Bank of Canada now owns 487,582 shares of the oil and gas exploration company’s stock valued at $10,308,000 after buying an additional 105,361 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Forestar Group by 19.0% in the 1st quarter. New York State Common Retirement Fund now owns 89,581 shares of the oil and gas exploration company’s stock valued at $1,894,000 after buying an additional 14,300 shares in the last quarter. Denali Advisors LLC boosted its holdings in shares of Forestar Group by 24.4% in the 1st quarter. Denali Advisors LLC now owns 295,104 shares of the oil and gas exploration company’s stock valued at $6,238,000 after buying an additional 57,943 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of Forestar Group by 55.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 29,800 shares of the oil and gas exploration company’s stock valued at $630,000 after buying an additional 10,600 shares in the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

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.