Forestar Group Inc (NYSE:FOR – Get Free Report) has earned an average rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $32.6667.
FOR has been the subject of a number of recent analyst reports. Zacks Research lowered Forestar Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. 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. Finally, Weiss Ratings cut shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th.
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Forestar Group Price Performance
Forestar Group (NYSE:FOR – Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.09). The company had revenue of $374.30 million for the quarter, compared to the consensus estimate of $372.56 million. Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 earnings per share.
Hedge Funds Weigh In On Forestar Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Forestar Group by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,769,594 shares of the oil and gas exploration company’s stock valued at $73,644,000 after purchasing an additional 110,286 shares during the period. Total Wealth Planning & Management Inc. acquired a new stake in shares of Forestar Group in the fourth quarter worth $552,000. Integrated Advisors Network LLC purchased a new position in shares of Forestar Group during the third quarter valued at $485,000. Lee Danner & Bass Inc. purchased a new position in shares of Forestar Group during the first quarter valued at $654,000. Finally, American Century Companies Inc. raised its position in Forestar Group by 5.5% during the third quarter. American Century Companies Inc. now owns 702,223 shares of the oil and gas exploration company’s stock valued at $18,672,000 after buying an additional 36,626 shares during the period. Institutional investors and hedge funds 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.
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