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

Key Points

• Forestar Group Inc (NYSE:FOR) has received a consensus rating of "Buy" from five research firms, with a 12-month price target averaging $30.20.
• The company reported earnings of $0.65 per share for the last quarter, which was below the consensus estimate of $0.78.
• The stock has shown positive year-over-year revenue growth of 22.6%, despite missing some earnings and revenue estimates.

Forestar Group Inc (NYSE:FOR - Get Free Report) has been given an average rating of "Buy" by the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $30.20.

Several equities analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They set an "outperform" rating for the company. Citizens Jmp began coverage on Forestar Group in a research report on Tuesday, July 15th. They set an "outperform" rating and a $30.00 target price for the company. BTIG Research decreased their price target on Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Finally, JMP Securities set a $30.00 price objective on Forestar Group and gave the stock a "market outperform" rating in a research report on Tuesday, July 15th.

Forestar Group Trading Up 2.8%

Forestar Group stock traded up $0.75 during trading hours on Friday, hitting $27.23. The stock had a trading volume of 18,015 shares, compared to its average volume of 196,516. The business's 50 day simple moving average is $22.28 and its 200-day simple moving average is $21.50. Forestar Group has a one year low of $18.00 and a one year high of $34.82. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 8.54 and a beta of 1.39. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $397.50 million. During the same period in the prior year, the company earned $0.76 EPS. The business's quarterly revenue was up 22.6% compared to the same quarter last year. On average, equities analysts predict that Forestar Group will post 3.44 EPS for the current fiscal year.

Institutional Trading of Forestar Group

A number of large investors have recently bought and sold shares of FOR. Dimensional Fund Advisors LP lifted its stake in shares of Forestar Group by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company's stock valued at $70,541,000 after purchasing an additional 119,357 shares during the period. American Century Companies Inc. boosted its holdings in shares of Forestar Group by 5.3% during the 2nd quarter. American Century Companies Inc. now owns 665,597 shares of the oil and gas exploration company's stock worth $13,312,000 after buying an additional 33,452 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Forestar Group by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 500,541 shares of the oil and gas exploration company's stock worth $10,012,000 after buying an additional 12,865 shares in the last quarter. Heartland Advisors Inc. grew its position in shares of Forestar Group by 25.3% during the 1st quarter. Heartland Advisors Inc. now owns 491,900 shares of the oil and gas exploration company's stock worth $10,399,000 after buying an additional 99,300 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Forestar Group by 50.8% in the 1st quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company's stock valued at $10,342,000 after acquiring an additional 164,753 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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.