Forestar Group Inc (NYSE:FOR) Given Average Recommendation of “Hold” by Brokerages

Forestar Group Inc (NYSE:FOR) has received a consensus rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $32.6667.

Several equities analysts recently weighed in on the company. Zacks Research cut Forestar Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings lowered Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Finally, BTIG Research initiated coverage on Forestar Group in a research report on Monday, March 30th. They issued a “hold” rating for the company.

Hedge Funds Weigh In On Forestar Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOR. Vanguard Group Inc. increased its stake in Forestar Group by 4.1% in the third quarter. Vanguard Group Inc. now owns 2,769,594 shares of the oil and gas exploration company’s stock valued at $73,644,000 after acquiring an additional 110,286 shares during the period. Total Wealth Planning & Management Inc. acquired a new position in Forestar Group in the fourth quarter worth about $552,000. Integrated Advisors Network LLC bought a new position in Forestar Group during the third quarter worth about $485,000. American Century Companies Inc. lifted its stake in Forestar Group by 5.5% during the third quarter. American Century Companies Inc. now owns 702,223 shares of the oil and gas exploration company’s stock worth $18,672,000 after purchasing an additional 36,626 shares during the period. Finally, Legato Capital Management LLC acquired a new stake in Forestar Group during the fourth quarter valued at approximately $432,000. 35.50% of the stock is currently owned by institutional investors.

Forestar Group Trading Up 0.2%

Forestar Group stock opened at $30.87 on Tuesday. Forestar Group has a one year low of $20.79 and a one year high of $32.06. The company’s fifty day moving average price is $28.17 and its two-hundred day moving average price is $27.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 9.41 and a beta of 1.39.

Forestar Group (NYSE:FOR) last announced its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.09). The company had revenue of $374.30 million for the quarter, compared to analyst estimates of $372.56 million. Forestar Group had a net margin of 9.80% and a return on equity of 9.49%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS.

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.