Forestar Group (NYSE:FOR) PT Set at $30.00 by JMP Securities

JMP Securities set a $30.00 price target on Forestar Group (NYSE:FOR - Free Report) in a research report sent to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a market outperform rating on the oil and gas exploration company's stock.

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

Forestar Group Stock Performance

NYSE:FOR traded down $0.18 during trading hours on Tuesday, hitting $22.18. 270,133 shares of the company were exchanged, compared to its average volume of 175,693. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 6.72 and a beta of 1.40. Forestar Group has a 52-week low of $18.00 and a 52-week high of $37.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.73 and a quick ratio of 0.73. The company's 50 day moving average price is $20.10 and its 200-day moving average price is $21.64.

Forestar Group (NYSE:FOR - Get Free Report) last announced its quarterly 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). Forestar Group had a return on equity of 10.65% and a net margin of 11.45%. The firm had revenue of $351.00 million for the quarter, compared to analysts' expectations of $379.60 million. As a group, research analysts forecast that Forestar Group will post 3.44 earnings per share for the current year.

Insider Activity

In related news, Director Elizabeth Parmer sold 1,460 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $20.57, for a total value of $30,032.20. Following the completion of the sale, the director owned 3,357 shares of the company's stock, valued at approximately $69,053.49. This represents a 30.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its stake in Forestar Group by 34.9% during 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 buying an additional 6,421 shares during the period. Parallel Advisors LLC boosted its stake in Forestar Group by 237.1% during the second quarter. Parallel Advisors LLC now owns 3,533 shares of the oil and gas exploration company's stock worth $71,000 after buying an additional 2,485 shares during the period. Swedbank AB boosted its stake in Forestar Group by 100.0% during the first quarter. Swedbank AB now owns 100,000 shares of the oil and gas exploration company's stock worth $2,114,000 after buying an additional 50,000 shares during the period. Strs Ohio purchased a new position in Forestar Group during the first quarter worth about $74,000. Finally, Jane Street Group LLC purchased a new position in shares of Forestar Group in the first quarter valued at approximately $850,000. Hedge funds and other institutional investors own 35.50% of the company's stock.

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.