Forestar Group (NYSE:FOR) Earns Strong-Buy Rating from Analysts at Citizens Jmp

Research analysts at Citizens Jmp started coverage on shares of Forestar Group (NYSE:FOR - Get Free Report) in a note issued to investors on Tuesday, MarketBeat reports. The firm set a "strong-buy" rating and a $30.00 price target on the oil and gas exploration company's stock. Citizens Jmp's price objective points to a potential upside of 35.79% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. JMP Securities set a $30.00 price objective on shares of Forestar Group and gave the stock a "market outperform" rating in a report on Tuesday. BTIG Research dropped their price target on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.20.

Forestar Group Stock Performance

Shares of FOR traded down $0.05 during mid-day trading on Tuesday, reaching $22.09. 207,220 shares of the company's stock traded hands, compared to its average volume of 175,687. 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 business's 50-day moving average price is $20.26 and its 200-day moving average price is $21.62. The stock has a market capitalization of $1.12 billion, a P/E ratio of 6.69 and a beta of 1.40. Forestar Group has a 12 month low of $18.00 and a 12 month high of $37.07.

Forestar Group (NYSE:FOR - Get Free Report) last announced its earnings results on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.07). Forestar Group had a net margin of 11.45% and a return on equity of 10.65%. The business had revenue of $351.00 million for the quarter, compared to the consensus estimate of $379.60 million. Equities analysts predict that Forestar Group will post 3.44 earnings per share for the current year.

Insider Transactions at Forestar Group

In other Forestar Group 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 directly owned 3,357 shares of the company's stock, valued at approximately $69,053.49. This represents a 30.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC acquired a new stake in shares of Forestar Group during the 4th quarter valued at $38,000. Signaturefd LLC raised its position in shares of Forestar Group by 119.1% during the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company's stock worth $32,000 after purchasing an additional 823 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Forestar Group during the fourth quarter valued at $76,000. Strs Ohio purchased a new stake in shares of Forestar Group during the first quarter valued at $74,000. Finally, Parallel Advisors LLC boosted its position in shares of Forestar Group by 237.1% in the 2nd 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 during the period. 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.