Forestar Group (NYSE:FOR) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Forestar Group (NYSE:FOR) from a strong-buy rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “Forestar Group, Inc. formerly known as Forestar Real Estate Group Inc. operates in two business segments: real estate and natural resources. The real estate segment owns directly or through ventures real estate. The natural resources segment manages acres of oil and gas mineral interests. In addition, the company also sells wood fiber from its land primarily located in Georgia, and leases land for recreational uses. “

Other equities research analysts have also recently issued reports about the stock. TheStreet upgraded shares of Forestar Group from a c rating to a b- rating in a research note on Monday, November 8th. BTIG Research reissued a buy rating and issued a $30.00 price target on shares of Forestar Group in a research note on Friday, November 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Buy and a consensus target price of $28.80.

FOR stock opened at $19.30 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market capitalization of $957.09 million, a price-to-earnings ratio of 8.54 and a beta of 1.93. Forestar Group has a 1 year low of $18.41 and a 1 year high of $26.55. The stock’s fifty day moving average is $21.00 and its two-hundred day moving average is $20.47.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Thursday, November 4th. The oil and gas exploration company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.20. Forestar Group had a net margin of 8.31% and a return on equity of 13.02%. The business had revenue of $418.70 million for the quarter, compared to analysts’ expectations of $389.75 million. During the same period in the previous year, the business earned $0.50 earnings per share. As a group, analysts predict that Forestar Group will post 3.22 EPS for the current fiscal year.

In other Forestar Group news, Director Lisa H. Jamieson sold 2,500 shares of Forestar Group stock in a transaction dated Thursday, December 16th. The stock was sold at an average price of $21.56, for a total transaction of $53,900.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of Forestar Group stock in a transaction dated Monday, December 20th. The shares were sold at an average price of $20.24, for a total value of $40,480.00. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Forestar Group by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,433,832 shares of the oil and gas exploration company’s stock valued at $50,891,000 after buying an additional 68,477 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Forestar Group by 3.7% during the 2nd quarter. BlackRock Inc. now owns 1,864,595 shares of the oil and gas exploration company’s stock valued at $38,987,000 after buying an additional 66,023 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Forestar Group by 4.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 801,928 shares of the oil and gas exploration company’s stock valued at $14,941,000 after buying an additional 32,669 shares during the last quarter. Carlson Capital L P lifted its holdings in shares of Forestar Group by 77.7% during the second quarter. Carlson Capital L P now owns 579,497 shares of the oil and gas exploration company’s stock worth $12,117,000 after buying an additional 253,382 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Forestar Group by 6.3% during the third quarter. Geode Capital Management LLC now owns 397,885 shares of the oil and gas exploration company’s stock worth $7,412,000 after buying an additional 23,639 shares during the last quarter. Institutional investors and hedge funds own 32.03% of the company’s stock.

About Forestar Group

Forestar Group Inc engages in the provision of real estate business. It acquires land and develops infrastructure for single-family residential communities, and its revenues generally come from sales of residential single-family finished lots to local, regional, and national homebuilders. The company was founded in 2007 and is headquartered in Arlington, TX.

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