Forestar Group Inc (NYSE:FOR – Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $26.21 and traded as high as $26.50. Forestar Group shares last traded at $25.9670, with a volume of 99,139 shares changing hands.
Analyst Upgrades and Downgrades
FOR has been the topic of a number of research analyst reports. BTIG Research began coverage on shares of Forestar Group in a report on Monday, March 30th. They set a “hold” rating on the stock. Citigroup increased their target price on Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Weiss Ratings downgraded Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Finally, Zacks Research cut Forestar Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Forestar Group currently has an average rating of “Hold” and an average target price of $32.67.
Read Our Latest Stock Report on FOR
Forestar Group Stock Performance
Forestar Group (NYSE:FOR – Get Free Report) last released its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.09). Forestar Group had a net margin of 9.80% and a return on equity of 9.49%. The business had revenue of $374.30 million during the quarter, compared to the consensus estimate of $372.57 million. During the same period last year, the business posted $0.62 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities analysts predict that Forestar Group Inc will post 3.06 EPS for the current year.
Institutional Trading of Forestar Group
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. grew its stake in Forestar Group by 232.9% in the second quarter. Ameriprise Financial Inc. now owns 529,863 shares of the oil and gas exploration company’s stock valued at $10,597,000 after purchasing an additional 370,685 shares in the last quarter. Millennium Management LLC raised its stake in shares of Forestar Group by 50.8% during the 1st quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock worth $10,342,000 after purchasing an additional 164,753 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Forestar Group in the 1st quarter valued at approximately $3,845,000. Alliancebernstein L.P. grew its stake in shares of Forestar Group by 235.3% in the third quarter. Alliancebernstein L.P. now owns 159,053 shares of the oil and gas exploration company’s stock valued at $4,229,000 after buying an additional 111,620 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Forestar Group by 4.1% in the third 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 buying an additional 110,286 shares in the last quarter. 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.
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