Forestar Group (NYSE:FOR) Upgraded at Zacks Research

Forestar Group (NYSE:FOR) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts have also weighed in on FOR. JPMorgan Chase & Co. increased their price objective on Forestar Group from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Citizens Jmp increased their price target on Forestar Group from $30.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Forestar Group in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Citigroup increased their target price on shares of Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Forestar Group has an average rating of “Moderate Buy” and a consensus target price of $32.40.

Forestar Group Stock Performance

Shares of Forestar Group stock opened at $26.06 on Thursday. The business’s fifty day simple moving average is $25.72 and its 200 day simple moving average is $25.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. Forestar Group has a 12 month low of $18.00 and a 12 month high of $29.44. The firm has a market capitalization of $1.33 billion, a P/E ratio of 7.97 and a beta of 1.42.

Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.09. The firm had revenue of $273.00 million during the quarter, compared to analyst estimates of $265.48 million. Forestar Group had a return on equity of 9.76% and a net margin of 9.90%.The business’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm posted $0.32 EPS. As a group, analysts anticipate that Forestar Group will post 3.44 EPS for the current year.

Institutional Investors Weigh In On Forestar Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in shares of Forestar Group by 1.1% in the third quarter. Rhumbline Advisers now owns 42,573 shares of the oil and gas exploration company’s stock valued at $1,132,000 after acquiring an additional 457 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Forestar Group by 5.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 9,946 shares of the oil and gas exploration company’s stock valued at $245,000 after purchasing an additional 500 shares during the period. Comerica Bank grew its position in shares of Forestar Group by 76.5% during 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 in the last quarter. Signaturefd LLC increased its holdings in shares of Forestar Group by 43.1% in the second 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 period. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 worth $26,000 after purchasing an additional 917 shares during the period. 35.50% of the stock is currently owned by institutional investors.

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.