Forestar Group Inc (NYSE:FOR) Stock Has Consensus Target Price of $32.67

Forestar Group Inc (NYSE:FOR) has been assigned a consensus rating of “Hold” from the five research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $36.50.

A number of research analysts have issued reports on the stock. Citizens Jmp reissued a “market outperform” rating and set a $35.00 price objective on shares of Forestar Group in a research report on Wednesday, July 22nd. Weiss Ratings lowered Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 23rd.

Insiders Place Their Bets

In other Forestar Group news, Director Lisa Jamieson sold 3,000 shares of Forestar Group stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $24.77, for a total transaction of $74,310.00. Following the transaction, the director directly owned 23,105 shares of the company’s stock, valued at $572,310.85. The trade was a 11.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Forestar Group

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of Forestar Group by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,805,806 shares of the oil and gas exploration company’s stock worth $68,573,000 after acquiring an additional 30,347 shares in the last quarter. BlackRock Inc. purchased a new stake in Forestar Group during the second quarter worth about $56,174,000. Heartland Advisors Inc. acquired a new position in Forestar Group in the 2nd quarter valued at $15,028,000. Jupiter Topco LLC acquired a new stake in shares of Forestar Group during the 2nd quarter worth $8,459,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Forestar Group in the second quarter valued at approximately $7,214,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Trading Down 2.8%

Shares of FOR opened at $23.79 on Monday. The stock has a market cap of $1.21 billion, a PE ratio of 8.83 and a beta of 1.43. Forestar Group has a twelve month low of $22.81 and a twelve month high of $32.06. The company has a quick ratio of 1.44, a current ratio of 2.22 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $26.01 and its 200-day moving average price is $27.35.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data on Thursday, October 29th. The oil and gas exploration company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.10). The business had revenue of $580.80 million for the quarter, compared to analysts’ expectations of $603.10 million. Forestar Group had a net margin of 8.72% and a return on equity of 7.73%. The firm’s revenue was down 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.70 EPS.

About Forestar Group

Forestar Group Inc (NYSE: FOR) is a residential lot development company that acquires, entitles and develops land for housing construction. The company sells finished and partially developed residential lots to homebuilders, including its majority shareholder, D.R. Horton, as well as other national, regional and local builders.

Forestar’s activities generally include identifying land opportunities, obtaining development approvals, installing infrastructure and managing the construction of roads, utilities and other improvements needed for residential communities.