Forestar Group Inc (NYSE:FOR) Receives $31.75 Consensus Price Target from Analysts

Forestar Group Inc (NYSE:FOR) has earned an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $31.75.

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Forestar Group in a report on Thursday, January 22nd. Zacks Research upgraded Forestar Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Citigroup upped their price target on Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Wall Street Zen downgraded Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its stake in Forestar Group by 1,206.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 917 shares during the period. Kestra Advisory Services LLC acquired a new position in Forestar Group during the fourth quarter worth $27,000. Allworth Financial LP lifted its holdings in Forestar Group by 3,273.8% during the second quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 1,375 shares in the last quarter. Comerica Bank grew its position in shares of 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 purchasing an additional 550 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Forestar Group by 201.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company’s stock valued at $42,000 after purchasing an additional 1,406 shares during the period. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Price Performance

NYSE:FOR opened at $25.20 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 7.71 and a beta of 1.42. The company has a 50 day moving average price of $27.20 and a 200-day moving average price of $26.28. Forestar Group has a 1-year low of $18.00 and a 1-year high of $30.74.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.09. The firm had revenue of $273.00 million during the quarter, compared to analysts’ expectations of $265.48 million. Forestar Group had a net margin of 9.90% and a return on equity of 9.76%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. Equities research analysts forecast that Forestar Group will post 3.44 EPS for the current year.

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.