Forestar Group’s (FOR) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp reaffirmed their market outperform rating on shares of Forestar Group (NYSE:FOR) in a report released on Wednesday,Benzinga reports. They currently have a $35.00 price target on the oil and gas exploration company’s stock.

Other research analysts have also issued reports about the stock. BTIG Research initiated coverage on shares of Forestar Group in a research note on Monday, March 30th. They set a “hold” rating for the company. Weiss Ratings upgraded shares of Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Finally, Zacks Research cut shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.67.

Forestar Group Price Performance

NYSE:FOR opened at $28.24 on Wednesday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 8.48 and a beta of 1.39. Forestar Group has a 1 year low of $22.81 and a 1 year high of $32.06. The business has a 50 day simple moving average of $28.83 and a 200-day simple moving average of $27.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.36.

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.11). Forestar Group had a net margin of 9.88% and a return on equity of 9.42%. The company had revenue of $407.00 million for the quarter, compared to the consensus estimate of $437.73 million. During the same period in the prior year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year.

Hedge Funds Weigh In On Forestar Group

Large investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Forestar Group in the first quarter worth $3,845,000. Total Wealth Planning & Management Inc. purchased a new stake in Forestar Group in the 4th quarter valued at about $552,000. Janney Montgomery Scott LLC bought a new position in Forestar Group in the 1st quarter worth about $557,000. SEB Asset Management AB purchased a new position in shares of Forestar Group during the first quarter worth approximately $1,640,000. Finally, Vanguard Group Inc. increased its position in shares of Forestar Group by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 2,813,034 shares of the oil and gas exploration company’s stock worth $69,285,000 after acquiring an additional 43,440 shares during the period. Hedge funds and other institutional investors own 35.50% of the company’s stock.

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.