Brokerages Set Forestar Group Inc (NYSE:FOR) Target Price at $30.25

Shares of Forestar Group Inc (NYSE:FOR - Get Free Report) have been assigned an average recommendation of "Buy" from the five brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $30.20.

A number of equities analysts recently issued reports on the company. JMP Securities set a $30.00 target price on Forestar Group and gave the stock a "market outperform" rating in a research note on Tuesday. Citigroup initiated coverage on Forestar Group in a research report on Tuesday. They set an "outperform" rating on the stock. Citizens Jmp started coverage on Forestar Group in a research report on Tuesday. They set a "strong-buy" rating and a $30.00 target price on the stock. Finally, BTIG Research lowered their price objective on Forestar Group from $36.00 to $29.00 and set a "buy" rating on the stock in a report on Monday, April 21st.

Forestar Group Stock Performance

FOR stock traded down $0.19 during midday trading on Tuesday, reaching $21.87. The stock had a trading volume of 184,016 shares, compared to its average volume of 192,407. The stock has a market cap of $1.11 billion, a PE ratio of 6.63 and a beta of 1.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a fifty day simple moving average of $20.30 and a two-hundred day simple moving average of $21.60. Forestar Group has a 52-week low of $18.00 and a 52-week high of $34.82.

Forestar Group (NYSE:FOR - Get Free Report) last issued its earnings results on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.07). The firm had revenue of $351.00 million during the quarter, compared to analysts' expectations of $379.60 million. Forestar Group had a return on equity of 10.65% and a net margin of 11.45%. As a group, equities research analysts anticipate that Forestar Group will post 3.44 EPS for the current year.

Insiders Place Their Bets

In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $20.57, for a total value of $30,032.20. Following the transaction, the director directly owned 3,357 shares of the company's stock, valued at $69,053.49. This trade represents a 30.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its position in shares of Forestar Group by 43.1% during the 2nd quarter. Signaturefd LLC now owns 2,166 shares of the oil and gas exploration company's stock valued at $43,000 after buying an additional 652 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Forestar Group by 34.9% in the second quarter. Public Employees Retirement System of Ohio now owns 24,806 shares of the oil and gas exploration company's stock worth $496,000 after acquiring an additional 6,421 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Forestar Group by 237.1% in the second quarter. Parallel Advisors LLC now owns 3,533 shares of the oil and gas exploration company's stock worth $71,000 after acquiring an additional 2,485 shares in the last quarter. Swedbank AB grew its stake in shares of Forestar Group by 100.0% in the first quarter. Swedbank AB now owns 100,000 shares of the oil and gas exploration company's stock worth $2,114,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Forestar Group in the first quarter worth $74,000. 35.50% of the stock is owned by hedge funds and other 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.