Forestar Group Inc (NYSE:FOR) Stock Rated "Hold" by Wall Street Analysts

Key Points

• Analysts rate Forestar Group “Hold”: Four of six analysts recommend holding the stock, while two recommend buying it. The average 12-month price target is $32.67, above the reported $25.63 share price.
• Forestar’s latest quarterly results fell short of expectations, with EPS of $0.70 versus an $0.81 consensus estimate and revenue of $407 million versus $437.73 million expected. Revenue nevertheless increased 4.2% year over year.
• Institutional investors own 35.5% of the company, with several firms recently increasing or initiating positions in Forestar shares.

Forestar Group Inc (NYSE:FOR - Get Free Report) has received an average rating of "Hold" from the six analysts that are currently covering the company, Marketbeat 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 twelve-month target price among brokers that have issued a report on the stock in the last year is $32.67.

Several research firms recently weighed in on FOR. Weiss Ratings cut shares of Forestar Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, September 8th. Citizens Jmp reiterated a "market outperform" rating and issued a $35.00 price objective on shares of Forestar Group in a research note on Wednesday, July 22nd.

Hedge Funds Weigh In On Forestar Group

Several institutional investors have recently modified their holdings of FOR. Glenmede Trust Co. NA increased its holdings in Forestar Group by 3.4% in the 1st quarter. Glenmede Trust Co. NA now owns 21,687 shares of the oil and gas exploration company's stock worth $530,000 after acquiring an additional 714 shares during the last quarter. Allworth Financial LP purchased a new stake in Forestar Group during the second quarter valued at about $33,000. Versant Capital Management Inc boosted its position in Forestar Group by 74.0% during the second quarter. Versant Capital Management Inc now owns 2,727 shares of the oil and gas exploration company's stock worth $86,000 after purchasing an additional 1,160 shares during the period. Fifth Third Bancorp bought a new position in Forestar Group in the 1st quarter worth approximately $31,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 purchasing an additional 1,656 shares in the last quarter. 35.50% of the stock is owned by institutional investors.

Forestar Group Price Performance

Shares of NYSE:FOR opened at $25.63 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.43. The stock's fifty day simple moving average is $27.68 and its two-hundred day simple moving average is $27.71. Forestar Group has a 1-year low of $22.81 and a 1-year high of $32.06. The stock has a market cap of $1.31 billion, a PE ratio of 7.70 and a beta of 1.40.

Forestar Group (NYSE:FOR - Get Free Report) last posted 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). The firm had revenue of $407.00 million during the quarter, compared to the consensus estimate of $437.73 million. Forestar Group had a return on equity of 9.42% and a net margin of 9.88%.The business's revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS.

About Forestar Group

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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