Forestar Group Inc (NYSE:FOR) Given Average Rating of "Buy" by Brokerages

Key Points

• Forestar Group Inc (NYSE:FOR) has been given an average rating of "Buy" by five research firms, with a target price of $30.20 over the next year.
• Institutional investors have significantly increased their stakes in Forestar Group, highlighted by Ameriprise Financial's 232.9% increase in holdings.
• Forestar Group reported a 22.6% year-over-year revenue increase despite missing EPS estimates for the recent quarter, with earnings per share at $0.65.

Shares of Forestar Group Inc (NYSE:FOR - Get Free Report) have been assigned an average recommendation of "Buy" from the five research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $30.20.

A number of research firms have weighed in on FOR. JMP Securities set a $30.00 price target on Forestar Group and gave the stock a "market outperform" rating in a research report on Tuesday, July 15th. Citigroup began coverage on Forestar Group in a research report on Tuesday, July 15th. They set an "outperform" rating for the company. Finally, Citizens Jmp began coverage on Forestar Group in a research report on Tuesday, July 15th. They set an "outperform" rating and a $30.00 price target for the company.

Institutional Investors Weigh In On Forestar Group

A number of institutional investors and hedge funds have recently made changes to their positions in FOR. Ameriprise Financial Inc. raised its stake in shares of Forestar Group by 232.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 529,863 shares of the oil and gas exploration company's stock worth $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. Nuveen LLC bought a new stake in shares of Forestar Group during the 1st quarter worth approximately $3,123,000. Royal Bank of Canada raised its stake in shares of Forestar Group by 27.6% during the 1st quarter. Royal Bank of Canada now owns 487,582 shares of the oil and gas exploration company's stock worth $10,308,000 after purchasing an additional 105,361 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Forestar Group by 406.1% during the 4th quarter. Janus Henderson Group PLC now owns 125,408 shares of the oil and gas exploration company's stock worth $3,247,000 after purchasing an additional 100,629 shares in the last quarter. Institutional investors own 35.50% of the company's stock.

Forestar Group Price Performance

Forestar Group stock opened at $27.45 on Wednesday. The firm has a market capitalization of $1.40 billion, a P/E ratio of 8.61 and a beta of 1.43. Forestar Group has a 1 year low of $18.00 and a 1 year high of $34.82. The business has a 50-day moving average of $24.58 and a 200-day moving average of $21.93. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.13). Forestar Group had a return on equity of 10.02% and a net margin of 10.54%.The firm had revenue of $390.50 million for the quarter, compared to analyst estimates of $397.50 million. During the same period last year, the company earned $0.76 EPS. The company's revenue was up 22.6% compared to the same quarter last year. Forestar Group has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Forestar Group will post 3.44 EPS for the current year.

About Forestar Group

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.

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