Forestar Group Inc (NYSE:FOR – Get Free Report)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.74 and traded as high as $29.96. Forestar Group shares last traded at $29.0680, with a volume of 99,756 shares changing hands.
Analyst Upgrades and Downgrades
FOR has been the topic of a number of recent research reports. Weiss Ratings lowered Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. BTIG Research assumed coverage on Forestar Group in a research note on Monday, March 30th. They issued a “hold” rating for the company. Finally, Zacks Research lowered Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.67.
Read Our Latest Research Report on FOR
Forestar Group Price Performance
Forestar Group (NYSE:FOR – Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.09). The firm had revenue of $374.30 million for the quarter, compared to analysts’ expectations of $372.56 million. Forestar Group had a net margin of 9.80% and a return on equity of 9.49%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS.
Hedge Funds Weigh In On Forestar Group
Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Forestar Group by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 2,813,034 shares of the oil and gas exploration company’s stock worth $69,285,000 after purchasing an additional 43,440 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Forestar Group by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,805,806 shares of the oil and gas exploration company’s stock worth $68,573,000 after buying an additional 30,347 shares during the period. American Century Companies Inc. boosted its stake 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 worth $18,672,000 after buying an additional 36,626 shares during the period. First Eagle Investment Management LLC increased its position in shares of Forestar Group by 3.3% during the third quarter. First Eagle Investment Management LLC now owns 537,269 shares of the oil and gas exploration company’s stock valued at $14,286,000 after acquiring an additional 17,000 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Forestar Group by 232.9% during 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 acquiring an additional 370,685 shares during the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.
About Forestar Group
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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