Shares of Forestar Group Inc (NYSE:FOR – Get Free Report) have been given an average rating of “Hold” by the six research firms that are presently covering the firm, MarketBeat.com 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 target price among brokerages that have issued ratings on the stock in the last year is $32.6667.
FOR has been the topic of several analyst reports. BTIG Research initiated coverage on shares of Forestar Group in a report on Monday, March 30th. They issued a “hold” rating on the stock. Weiss Ratings lowered shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Finally, Zacks Research downgraded shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th.
View Our Latest Analysis on FOR
Forestar Group Trading Up 2.5%
Forestar Group (NYSE:FOR – Get Free Report) last posted its earnings results 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 firm had revenue of $374.30 million during the quarter, compared to analyst estimates of $372.57 million. Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $0.62 earnings per share. On average, analysts predict that Forestar Group will post 3.06 EPS for the current year.
Institutional Investors Weigh In On Forestar Group
Several large investors have recently made changes to their positions in FOR. NewEdge Advisors LLC grew its position in Forestar Group by 35.3% in the first quarter. NewEdge Advisors LLC now owns 23,221 shares of the oil and gas exploration company’s stock valued at $568,000 after purchasing an additional 6,055 shares in the last quarter. Glenmede Trust Co. NA grew its position in Forestar Group by 3.4% in the first quarter. Glenmede Trust Co. NA now owns 21,687 shares of the oil and gas exploration company’s stock valued at $530,000 after purchasing an additional 714 shares in the last quarter. Janus Henderson Group PLC grew its position in Forestar Group by 28.2% in the first quarter. Janus Henderson Group PLC now owns 256,842 shares of the oil and gas exploration company’s stock valued at $6,286,000 after purchasing an additional 56,514 shares in the last quarter. Empowered Funds LLC bought a new position in Forestar Group in the first quarter valued at $1,935,000. Finally, Quantinno Capital Management LP grew its position in Forestar Group by 20.8% in the first quarter. Quantinno Capital Management LP now owns 34,919 shares of the oil and gas exploration company’s stock valued at $853,000 after purchasing an additional 6,020 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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