Brokerages Set Forestar Group Inc (NYSE:FOR) Target Price at $30.20

Forestar Group Inc (NYSE:FOR) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $30.20.

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Forestar Group in a report on Wednesday, October 8th. Zacks Research upgraded shares of Forestar Group from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Citizens Jmp assumed coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They issued an “outperform” rating and a $30.00 target price on the stock. Citigroup assumed coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They issued an “outperform” rating on the stock. Finally, JMP Securities set a $30.00 target price on shares of Forestar Group and gave the company a “market outperform” rating in a research note on Tuesday, July 15th.

Institutional Trading of Forestar Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP raised its position in shares of Forestar Group by 3,273.8% in the second quarter. Allworth Financial LP now owns 1,417 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 1,375 shares during the period. Signaturefd LLC raised its position in shares of Forestar Group by 119.1% in the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company’s stock valued at $32,000 after purchasing an additional 823 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Forestar Group by 201.1% in the second 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. Parallel Advisors LLC raised its position in shares of Forestar Group by 237.1% in the second quarter. Parallel Advisors LLC now owns 3,533 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 2,485 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Forestar Group in the third quarter valued at approximately $72,000. Institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Down 0.6%

Forestar Group stock opened at $26.11 on Thursday. Forestar Group has a fifty-two week low of $18.00 and a fifty-two week high of $34.82. The stock has a market cap of $1.33 billion, a PE ratio of 8.18 and a beta of 1.44. The firm’s 50-day simple moving average is $26.81 and its 200 day simple moving average is $23.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73.

Forestar Group Company Profile

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.