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.

Forestar Group Inc (NYSE:FOR - Get Free Report) has earned a consensus recommendation of "Buy" from the five research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $30.20.

A number of equities research analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Forestar Group in a report on Tuesday, July 15th. They issued an "outperform" rating on the stock. JMP Securities set a $30.00 target price on shares of Forestar Group and gave the company a "market outperform" rating in a report on Tuesday, July 15th. Finally, Citizens Jmp assumed coverage on shares of Forestar Group in a report on Tuesday, July 15th. They issued an "outperform" rating and a $30.00 price target on the stock.

Forestar Group Stock Up 1.7%

NYSE:FOR traded up $0.47 on Wednesday, hitting $28.63. 187,495 shares of the company's stock were exchanged, compared to its average volume of 148,683. The firm has a 50-day moving average price of $25.07 and a 200-day moving average price of $22.03. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.73 and a quick ratio of 0.73. Forestar Group has a 52 week low of $18.00 and a 52 week high of $34.82. The company has a market cap of $1.46 billion, a P/E ratio of 8.97 and a beta of 1.43.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC raised its holdings in Forestar Group by 38.3% in the 2nd quarter. Squarepoint Ops LLC now owns 28,865 shares of the oil and gas exploration company's stock valued at $577,000 after acquiring an additional 7,987 shares during the period. Tower Research Capital LLC TRC raised its holdings in Forestar Group by 201.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company's stock valued at $42,000 after acquiring an additional 1,406 shares during the period. BNP Paribas Financial Markets raised its holdings in Forestar Group by 165.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 76,730 shares of the oil and gas exploration company's stock valued at $1,535,000 after acquiring an additional 47,848 shares during the period. Bank of America Corp DE raised its holdings in Forestar Group by 44.0% in the 2nd quarter. Bank of America Corp DE now owns 57,552 shares of the oil and gas exploration company's stock valued at $1,151,000 after acquiring an additional 17,579 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Forestar Group by 232.9% in the 2nd 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 period. 35.50% of the stock is owned by institutional investors.

Forestar Group Company Profile

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.