Forestar Group (NYSE:FOR) Stock Price Expected to Rise, Citigroup Analyst Says

Forestar Group (NYSE:FOR) had its price target increased by investment analysts at Citigroup from $33.00 to $36.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. Citigroup’s price objective would indicate a potential upside of 37.70% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Citizens Jmp raised their target price on Forestar Group from $30.00 to $35.00 and gave the stock a “market outperform” rating in a report on Wednesday. Zacks Research upgraded Forestar Group from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. JMP Securities set a $35.00 target price on Forestar Group in a report on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Forestar Group in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Forestar Group currently has an average rating of “Moderate Buy” and an average price target of $33.00.

Forestar Group Price Performance

Shares of FOR opened at $26.14 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 0.45. Forestar Group has a 1 year low of $18.00 and a 1 year high of $33.06. The stock has a market cap of $1.33 billion, a P/E ratio of 7.95 and a beta of 1.44. The stock’s 50-day moving average price is $26.76 and its two-hundred day moving average price is $23.42.

Forestar Group (NYSE:FOR) last issued its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.53. Forestar Group had a return on equity of 10.08% and a net margin of 10.11%.The firm had revenue of $670.50 million for the quarter, compared to analysts’ expectations of $556.59 million. During the same quarter last year, the business earned $1.60 earnings per share. The company’s revenue was up 21.6% compared to the same quarter last year. Forestar Group has set its FY 2026 guidance at EPS. On average, equities analysts predict that Forestar Group will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Forestar Group

A number of hedge funds have recently modified their holdings of FOR. New York State Common Retirement Fund raised its position in shares of Forestar Group by 19.0% during the first quarter. New York State Common Retirement Fund now owns 89,581 shares of the oil and gas exploration company’s stock worth $1,894,000 after purchasing an additional 14,300 shares during the period. MQS Management LLC acquired a new stake in shares of Forestar Group during the first quarter worth about $379,000. Signaturefd LLC raised its position in shares of Forestar Group by 119.1% during the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 823 shares during the period. Denali Advisors LLC raised its position in shares of Forestar Group by 24.4% during the first quarter. Denali Advisors LLC now owns 295,104 shares of the oil and gas exploration company’s stock worth $6,238,000 after purchasing an additional 57,943 shares during the period. Finally, KLP Kapitalforvaltning AS raised its position in shares of Forestar Group by 55.2% during the first quarter. KLP Kapitalforvaltning AS now owns 29,800 shares of the oil and gas exploration company’s stock worth $630,000 after purchasing an additional 10,600 shares during the period. Institutional investors and hedge funds own 35.50% of the company’s stock.

About Forestar Group

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.