Brokerages Set Forestar Group Inc (NYSE:FOR) Price Target at $32.67

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

FOR has been the topic of several analyst reports. Weiss Ratings raised shares of Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Citizens Jmp reiterated a “market outperform” rating and set a $35.00 price objective on shares of Forestar Group in a report on Wednesday, July 22nd.

Institutional Investors Weigh In On Forestar Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in shares of Forestar Group by 32.1% during the first quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company’s stock worth $4,811,000 after acquiring an additional 55,266 shares during the last quarter. Millennium Management LLC raised its position in shares of Forestar Group by 50.8% in the 1st quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock valued at $10,342,000 after purchasing an additional 164,753 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Forestar Group by 63.7% in the 1st quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company’s stock valued at $102,000 after purchasing an additional 1,879 shares during the last quarter. Jane Street Group LLC acquired a new stake in Forestar Group in the 1st quarter worth approximately $850,000. Finally, Strs Ohio acquired a new stake in Forestar Group in the 1st quarter worth approximately $74,000. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Forestar Group Stock Up 0.9%

Shares of Forestar Group stock opened at $29.15 on Wednesday. The firm’s 50 day moving average price is $29.54 and its 200-day moving average price is $27.92. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.43. Forestar Group has a 52-week low of $22.81 and a 52-week high of $32.06. The company has a market cap of $1.49 billion, a P/E ratio of 8.75 and a beta of 1.41.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.11). The firm had revenue of $407.00 million for the quarter, compared to the consensus estimate 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 was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 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.