Forestar Group Inc (NYSE:FOR) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Forestar Group has a consensus “Hold” rating from six analysts: four recommend holding the stock and two recommend buying it. The average 12-month price target is $32.67, above its recent opening price of $26.77.
• The company’s latest quarterly results fell short of expectations, with EPS of $0.70 versus the $0.81 consensus estimate and revenue of $407 million versus estimates of $437.73 million. Revenue nevertheless increased 4.2% year over year.
• Institutional investors and hedge funds own approximately 35.5% of Forestar’s outstanding shares, with several institutions recently initiating positions in the company.

Forestar Group Inc (NYSE:FOR - Get Free Report) has been given an average rating of "Hold" by the six research firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $32.6667.

Several analysts recently weighed in on the stock. Weiss Ratings cut shares of Forestar Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday. Citizens Jmp reiterated a "market outperform" rating and set a $35.00 price target on shares of Forestar Group in a report on Wednesday, July 22nd.

Forestar Group Trading Up 0.9%

FOR opened at $26.77 on Friday. The business has a fifty day moving average price of $28.81 and a 200 day moving average price of $27.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.44. Forestar Group has a 12 month low of $22.81 and a 12 month high of $32.06. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 8.04 and a beta of 1.41.

Forestar Group (NYSE:FOR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $437.73 million. During the same period in the prior year, the business earned $0.65 EPS. Forestar Group's revenue for the quarter was up 4.2% on a year-over-year basis.

Hedge Funds Weigh In On Forestar Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Forestar Group during the second quarter worth about $723,000. SEB Asset Management AB acquired a new stake in shares of Forestar Group during the first quarter worth about $1,640,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Forestar Group in the 1st quarter valued at about $3,845,000. Bank of New York Mellon Corp acquired a new stake in shares of Forestar Group in the 2nd quarter valued at about $7,214,000. Finally, Man Group plc acquired a new stake in shares of Forestar Group in the 2nd quarter valued at about $1,973,000. Institutional investors and hedge funds own 35.50% of the company's stock.

About Forestar Group

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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