Forestar Group Inc (NYSE:FOR) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Forestar Group has a consensus “Hold” rating from six analysts, with four holds and two buys; the average 12-month price target is $32.67 versus the stock’s recent price of $28.71.
• The stock has declined 1.5% and trades within a 52-week range of $22.81 to $32.06. Forestar’s latest quarterly results missed expectations, with EPS of $0.70 versus $0.81 expected and revenue of $407 million versus $437.73 million forecast.
• Institutional ownership stands at 35.5%, with several firms initiating positions and Vanguard increasing its stake by 1.6%.

Shares of Forestar Group Inc (NYSE:FOR - Get Free Report) have been given a consensus rating of "Hold" by the six research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $32.6667.

Several brokerages recently issued reports on FOR. Citizens Jmp restated a "market outperform" rating and set a $35.00 price objective on shares of Forestar Group in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Forestar Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 12th.

Forestar Group Stock Down 1.5%

Shares of Forestar Group stock opened at $28.71 on Wednesday. The business has a 50-day moving average price of $29.52 and a 200 day moving average price of $27.86. Forestar Group has a fifty-two week low of $22.81 and a fifty-two week high of $32.06. The firm has a market cap of $1.47 billion, a P/E ratio of 8.62 and a beta of 1.41. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.43.

Forestar Group (NYSE:FOR - Get Free Report) last released its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.81 by ($0.11). The firm had revenue of $407.00 million for 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 company's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Forestar Group in the 1st quarter worth approximately $3,845,000. SEB Asset Management AB acquired a new position in Forestar Group during the 1st quarter valued at approximately $1,640,000. Total Wealth Planning & Management Inc. bought a new position in Forestar Group during the 4th quarter worth $552,000. Janney Montgomery Scott LLC bought a new position in Forestar Group during the 1st quarter worth $557,000. Finally, Vanguard Group Inc. increased its position in Forestar Group by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 2,813,034 shares of the oil and gas exploration company's stock worth $69,285,000 after buying an additional 43,440 shares during the period. 35.50% of the stock is owned by institutional investors and hedge funds.

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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