Forestar Group Inc (NYSE:FOR) Stock Rated “Hold” by Wall Street Brokerages

Shares of Forestar Group Inc (NYSE:FOR) have received a consensus recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $32.67.

Several research analysts recently commented on FOR shares. Citizens Jmp reiterated a “market outperform” rating and set a $35.00 price objective on shares of Forestar Group in a research note on Wednesday, July 22nd. Weiss Ratings raised Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday.

Institutional Investors Weigh In On Forestar Group

A number of large investors have recently modified their holdings of FOR. Engineers Gate Manager LP increased its holdings in shares of Forestar Group by 22.7% during the second quarter. Engineers Gate Manager LP now owns 10,870 shares of the oil and gas exploration company’s stock valued at $344,000 after acquiring an additional 2,010 shares in the last quarter. NewEdge Advisors LLC increased its stake in Forestar Group by 17.2% during the 2nd quarter. NewEdge Advisors LLC now owns 27,226 shares of the oil and gas exploration company’s stock valued at $862,000 after purchasing an additional 4,005 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Forestar Group by 4.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,941 shares of the oil and gas exploration company’s stock worth $1,327,000 after buying an additional 1,656 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Forestar Group in the second quarter worth $5,269,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Forestar Group during the second quarter worth $723,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Trading Down 2.4%

Shares of NYSE:FOR opened at $25.03 on Thursday. The company has a market capitalization of $1.28 billion, a PE ratio of 7.52 and a beta of 1.40. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.43. Forestar Group has a 12-month low of $22.81 and a 12-month high of $32.06. The business’s fifty day simple moving average is $27.50 and its 200-day simple moving average is $27.72.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.11). The company had revenue of $407.00 million for the quarter, compared to analysts’ expectations of $437.73 million. Forestar Group had a return on equity of 9.42% and a net margin of 9.88%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share.

About Forestar Group

Forestar Group Inc (NYSE:FOR) is a residential lot development company that acquires, entitles and develops land for single-family and, in some markets, mixed-use communities. The company generally sells finished or partially developed residential lots to homebuilders rather than constructing homes for individual buyers.

Forestar’s activities include land acquisition, planning and entitlement, infrastructure development, and the management of residential development projects. Its lots are intended to support a range of housing types and price points, and the company works with national, regional and local homebuilders across its operating markets.

The company operates in multiple markets throughout the United States.