Shares of Forestar Group Inc (NYSE:FOR – Get Free Report) have received a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $32.6667.
Several equities research analysts have recently commented on the stock. Weiss Ratings downgraded shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, September 8th. Citizens Jmp reissued a “market outperform” rating and issued a $35.00 price target on shares of Forestar Group in a research report on Wednesday, July 22nd.
Check Out Our Latest Analysis on Forestar Group
Forestar Group Stock Performance
Forestar Group (NYSE:FOR – Get Free Report) last released its quarterly earnings data 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 return on equity of 9.42% and a net margin of 9.88%.The business had revenue of $407.00 million for the quarter, compared to analyst estimates of $437.73 million. During the same quarter in the previous year, the company posted $0.65 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis.
Institutional Investors Weigh In On Forestar Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in FOR. Engineers Gate Manager LP grew its holdings in shares of Forestar Group by 22.7% in the second quarter. Engineers Gate Manager LP now owns 10,870 shares of the oil and gas exploration company’s stock valued at $344,000 after acquiring an additional 2,010 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Forestar Group by 17.2% during the second quarter. NewEdge Advisors LLC now owns 27,226 shares of the oil and gas exploration company’s stock worth $862,000 after acquiring an additional 4,005 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Forestar Group by 4.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,941 shares of the oil and gas exploration company’s stock worth $1,327,000 after purchasing an additional 1,656 shares during the last quarter. Empowered Funds LLC purchased a new position in Forestar Group in the second quarter worth $5,269,000. Finally, Public Employees Retirement System of Ohio bought a new position in Forestar Group in the 2nd quarter valued at $723,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.
Forestar Group Company Profile
Forestar Group Inc (NYSE:FOR) is a residential lot development company headquartered in Arlington, Texas. The company acquires and develops land into finished or partially finished residential lots, which it sells primarily to homebuilders for the construction of single-family homes.
Forestar’s activities generally include land acquisition, entitlement, planning, development and infrastructure installation, such as roads, utilities and other improvements needed to prepare communities for home construction.
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