Forestar Group Inc (NYSE:FOR) Receives Average Rating of "Buy" from Brokerages

Key Points

• Forestar Group Inc (NYSE:FOR) receives an average investment rating of "Buy" from five brokerages, including one strong buy and three buy ratings.
• The stock's average twelve-month price target is set at $30.20 following recent coverage updates by analysts.
• Despite a Q2 earnings miss reporting $0.65 EPS against expectations of $0.78, the company showed a 22.6% year-over-year revenue increase with $390.50 million in revenue.

Shares of Forestar Group Inc (NYSE:FOR - Get Free Report) have been given an average rating of "Buy" by the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One 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 twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.20.

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

Several institutional investors and hedge funds have recently modified their holdings of FOR. Bank of America Corp DE boosted its position in shares of Forestar Group by 106.4% in the fourth quarter. Bank of America Corp DE now owns 39,035 shares of the oil and gas exploration company's stock worth $1,012,000 after buying an additional 20,127 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Forestar Group by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,905 shares of the oil and gas exploration company's stock worth $283,000 after buying an additional 456 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Forestar Group by 25.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,455 shares of the oil and gas exploration company's stock worth $1,282,000 after buying an additional 10,049 shares during the period. GAMMA Investing LLC boosted its position in shares of Forestar Group by 263,300.0% in the first quarter. GAMMA Investing LLC now owns 13,170 shares of the oil and gas exploration company's stock worth $278,000 after buying an additional 13,165 shares during the period. Finally, CWA Asset Management Group LLC boosted its position in shares of Forestar Group by 35.8% in the first quarter. CWA Asset Management Group LLC now owns 26,315 shares of the oil and gas exploration company's stock worth $556,000 after buying an additional 6,941 shares during the period. Hedge funds and other institutional investors own 35.50% of the company's stock.

Forestar Group Price Performance

FOR stock opened at $26.33 on Friday. The stock has a 50-day moving average price of $26.62 and a two-hundred day moving average price of $22.52. Forestar Group has a 12-month low of $18.00 and a 12-month high of $34.82. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52. The company has a market cap of $1.34 billion, a PE ratio of 8.25 and a beta of 1.43.

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