Forestar Group (NYSE:FOR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Forestar Group (NYSE:FOR) from a hold rating to a buy rating in a research report sent to investors on Friday.

A number of other equities analysts also recently commented on FOR. JMP Securities set a $35.00 target price on shares of Forestar Group in a research note on Wednesday, October 29th. Citigroup increased their price target on Forestar Group from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Citizens Jmp raised their price objective on Forestar Group from $30.00 to $35.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 29th. Zacks Research raised Forestar Group from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. increased their target price on Forestar Group from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Forestar Group Stock Performance

NYSE:FOR opened at $25.52 on Friday. The company has a market cap of $1.30 billion, a P/E ratio of 7.76 and a beta of 1.43. The firm’s 50 day moving average is $25.51 and its two-hundred day moving average is $24.18. Forestar Group has a fifty-two week low of $18.00 and a fifty-two week high of $30.59. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 0.45.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.53. Forestar Group had a net margin of 10.11% and a return on equity of 10.08%. The company had revenue of $670.50 million during the quarter, compared to analysts’ expectations of $556.59 million. During the same period in the previous year, the company earned $1.60 EPS. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. Forestar Group has set its FY 2026 guidance at EPS. Analysts expect that Forestar Group will post 3.44 EPS for the current year.

Institutional Trading of Forestar Group

A number of hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its stake in Forestar Group by 1,206.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock valued at $26,000 after buying an additional 917 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Forestar Group by 3,273.8% in the 2nd quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock worth $28,000 after acquiring an additional 1,375 shares during the period. Comerica Bank lifted its position in Forestar Group by 76.5% in the 3rd quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 550 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Forestar Group by 201.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company’s stock valued at $42,000 after purchasing an additional 1,406 shares during the period. Finally, Signaturefd LLC grew its position in Forestar Group by 43.1% in the 2nd quarter. Signaturefd LLC now owns 2,166 shares of the oil and gas exploration company’s stock worth $43,000 after purchasing an additional 652 shares during the last quarter. 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.