Forestar Group Inc (NYSE:FOR) Stock Has Average Price Target of $32.67 According to Brokerages

Shares of Forestar Group Inc (NYSE:FOR – Get Free Report) have received an average recommendation of “Hold” from the six research firms that are currently covering the firm, 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 12-month target price among brokerages that have issued a report on the stock in the last year is $32.67.

Several brokerages have weighed in on FOR. Weiss Ratings upgraded Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Citizens Jmp reiterated a “market outperform” rating and issued a $35.00 target price on shares of Forestar Group in a research note on Wednesday, July 22nd.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP lifted its position in shares of Forestar Group by 22.7% during the 2nd quarter. Engineers Gate Manager LP now owns 10,870 shares of the oil and gas exploration company’s stock worth $344,000 after buying an additional 2,010 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Forestar Group by 17.2% in the second quarter. NewEdge Advisors LLC now owns 27,226 shares of the oil and gas exploration company’s stock valued at $862,000 after acquiring an additional 4,005 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 valued at $1,327,000 after acquiring an additional 1,656 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Forestar Group during the second quarter valued at approximately $5,269,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Forestar Group during the second quarter valued at approximately $723,000. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Forestar Group Stock Down 1.1%

FOR stock opened at $25.64 on Thursday. Forestar Group has a twelve month low of $22.81 and a twelve month high of $32.06. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average is $27.58 and its 200-day moving average is $27.70. The firm has a market capitalization of $1.31 billion, a PE ratio of 7.70 and a beta of 1.40.

Forestar Group (NYSE:FOR – Get Free Report) last announced its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share (EPS) 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 analysts’ expectations of $437.73 million. During the same period in the previous year, the firm earned $0.65 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis.

About Forestar Group

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Forestar Group Inc (NYSE:FOR) is a residential lot development company that acquires, entitles and develops land for single-family and, in some markets, mixed-use communities. The company generally sells finished or partially developed residential lots to homebuilders rather than constructing homes for individual buyers.

Forestar’s activities include land acquisition, planning and entitlement, infrastructure development, and the management of residential development projects. Its lots are intended to support a range of housing types and price points, and the company works with national, regional and local homebuilders across its operating markets.

The company operates in multiple markets throughout the United States.

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