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

Key Points

• Forestar Group currently carries a consensus analyst rating of "Hold", based on six covering firms; four rate it Hold and two rate it Buy.
• Brokerages have an average 12-month price target of $32.67, with recent analyst actions mixed, including Citigroup raising its target to $38 and others downgrading the stock to Hold.
• The company recently reported Q1 earnings of $0.63 per share, missing estimates, while revenue came in slightly above expectations at $374.3 million and rose 6.6% year over year.

Shares of Forestar Group Inc (NYSE:FOR - Get Free Report) have earned an average rating of "Hold" from the six ratings firms that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $32.6667.

Several equities analysts have recently weighed in on the company. Citigroup increased their price target on Forestar Group from $36.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, January 28th. Zacks Research cut Forestar Group from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Wall Street Zen cut Forestar Group from a "buy" rating to a "hold" rating in a report on Friday, January 23rd. Weiss Ratings raised Forestar Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 4th. Finally, BTIG Research assumed coverage on Forestar Group in a report on Monday, March 30th. They set a "hold" rating on the stock.

Hedge Funds Weigh In On Forestar Group

Institutional investors have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in Forestar Group in the 3rd quarter worth $2,003,000. Vanguard Group Inc. raised its holdings in Forestar Group by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,769,594 shares of the oil and gas exploration company's stock worth $73,644,000 after purchasing an additional 110,286 shares during the period. Integrated Advisors Network LLC bought a new position in Forestar Group in the 3rd quarter worth $485,000. American Century Companies Inc. raised its holdings in Forestar Group by 5.5% in the 3rd quarter. American Century Companies Inc. now owns 702,223 shares of the oil and gas exploration company's stock worth $18,672,000 after purchasing an additional 36,626 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Forestar Group in the 3rd quarter worth $254,000. 35.50% of the stock is owned by institutional investors.

Forestar Group Price Performance

NYSE FOR opened at $27.41 on Monday. The business's fifty day moving average price is $26.21 and its 200-day moving average price is $26.22. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 8.36 and a beta of 1.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.36 and a quick ratio of 1.36. Forestar Group has a 1-year low of $18.50 and a 1-year high of $30.74.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.09). The firm had revenue of $374.30 million for the quarter, compared to the consensus estimate of $372.57 million. Forestar Group had a net margin of 9.80% and a return on equity of 9.49%. Forestar Group's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 earnings per share. On average, equities analysts predict that Forestar Group will post 3.06 earnings per share for the current year.

Forestar Group Company Profile

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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