JMP Securities Reiterates "$30.00" Price Target for Forestar Group (NYSE:FOR)

Forestar Group (NYSE:FOR - Get Free Report) has been assigned a $30.00 target price by stock analysts at JMP Securities in a report released on Tuesday, July 15th, Marketbeat Ratings reports. The brokerage currently has a "market outperform" rating on the oil and gas exploration company's stock. JMP Securities' price objective would indicate a potential upside of 20.97% from the company's previous close.

Separately, BTIG Research lowered their target price on Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Forestar Group presently has an average rating of "Moderate Buy" and an average price target of $30.20.

Forestar Group Trading Down 0.7%

FOR opened at $24.80 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 7.76 and a beta of 1.40. The stock's 50 day moving average price is $20.97 and its 200-day moving average price is $21.49. Forestar Group has a one year low of $18.00 and a one year high of $34.82.

Forestar Group (NYSE:FOR - Get Free Report) last announced 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). The firm had revenue of $390.50 million during the quarter, compared to analysts' expectations of $397.50 million. Forestar Group had a net margin of 10.54% and a return on equity of 10.02%. The firm's revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. On average, equities analysts forecast that Forestar Group will post 3.44 EPS for the current year.

Insider Activity

In other 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 transaction of $30,032.20. Following the completion of the sale, the director owned 3,357 shares in the company, valued at $69,053.49. This trade represents a 30.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of Forestar Group

Several institutional investors have recently added to or reduced their stakes in FOR. Signaturefd LLC grew its stake in shares of Forestar Group by 119.1% in the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company's stock worth $32,000 after acquiring an additional 823 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Forestar Group during the fourth quarter worth about $38,000. Parallel Advisors LLC lifted its holdings 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 valued at $71,000 after purchasing an additional 2,485 shares in the last quarter. Strs Ohio purchased a new position in shares of Forestar Group during the first quarter valued at approximately $74,000. Finally, NewEdge Advisors LLC purchased a new position in Forestar Group during the fourth quarter worth approximately $76,000. Institutional investors and hedge funds own 35.50% of the company's stock.

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.