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

Key Points

• Forestar Group has a consensus analyst rating of "Hold" from six brokerages, with four holds and two buys. The average 12-month price target is about $32.67.
• The company reported Q3 earnings of $0.70 per share, missing the $0.81 estimate, and revenue of $407 million, also below expectations. Revenue still rose 4.2% year over year.
• Forestar Group shares were recently trading around $28.24, near the middle of their 52-week range of $22.81 to $32.06. The stock has a market cap of $1.44 billion and a debt-to-equity ratio of 0.43.

Shares of Forestar Group Inc (NYSE:FOR - Get Free Report) have received a consensus rating of "Hold" from the six brokerages that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $32.6667.

FOR has been the subject of several recent analyst reports. Citizens Jmp restated a "market outperform" rating and set a $35.00 price objective on shares of Forestar Group in a research report on Wednesday. BTIG Research began coverage on shares of Forestar Group in a report on Monday, March 30th. They issued a "hold" rating on the stock. Zacks Research cut shares of Forestar Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Finally, Weiss Ratings upgraded shares of Forestar Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 15th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FOR. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Forestar Group during the 1st quarter worth about $3,845,000. Total Wealth Planning & Management Inc. purchased a new stake in Forestar Group in the 4th quarter valued at about $552,000. Vanguard Group Inc. lifted 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 valued at $69,285,000 after buying an additional 43,440 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Forestar Group in the first quarter valued at about $557,000. Finally, SEB Asset Management AB acquired a new position in Forestar Group in the first quarter valued at about $1,640,000. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Forestar Group Stock Up 1.2%

Shares of FOR opened at $28.24 on Friday. Forestar Group has a 52-week low of $22.81 and a 52-week high of $32.06. The company has a market capitalization of $1.44 billion, a PE ratio of 8.48 and a beta of 1.39. The stock has a fifty day simple moving average of $28.83 and a two-hundred day simple moving average of $27.49. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.43.

Forestar Group (NYSE:FOR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.11). The firm had revenue of $407.00 million for the quarter, compared to analyst estimates of $437.73 million. Forestar Group had a net margin of 9.88% and a return on equity of 9.42%. The company's revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS.

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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