Forestar Group (NYSE:FOR) Price Target Increased to $46.00 by Analysts at Citigroup

Forestar Group (NYSE:FOR - Free Report) had its price target increased by Citigroup from $44.00 to $46.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the oil and gas exploration company's stock.

Separately, StockNews.com cut shares of Forestar Group from a buy rating to a hold rating in a research report on Friday, April 26th.

Forestar Group Stock Up 1.7 %

Shares of NYSE:FOR traded up $0.60 on Friday, reaching $34.97. The company had a trading volume of 163,381 shares, compared to its average volume of 229,019. The firm has a market capitalization of $1.77 billion, a PE ratio of 8.70 and a beta of 1.75. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.48. Forestar Group has a 52-week low of $19.32 and a 52-week high of $40.92. The firm's 50 day simple moving average is $35.55 and its 200-day simple moving average is $33.34.

Forestar Group (NYSE:FOR - Get Free Report) last posted its earnings results on Thursday, April 18th. The oil and gas exploration company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. The company had revenue of $333.80 million for the quarter, compared to analyst estimates of $345.60 million. Forestar Group had a return on equity of 14.59% and a net margin of 12.99%. As a group, analysts expect that Forestar Group will post 3.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Anthony W. Oxley acquired 3,210 shares of the company's stock in a transaction dated Wednesday, April 24th. The shares were purchased at an average cost of $31.15 per share, with a total value of $99,991.50. Following the completion of the acquisition, the chief executive officer now directly owns 3,210 shares of the company's stock, valued at $99,991.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.49% of the stock is owned by insiders.

Institutional Trading of Forestar Group

Several large investors have recently made changes to their positions in FOR. Denali Advisors LLC boosted its stake in shares of Forestar Group by 81.1% in the fourth quarter. Denali Advisors LLC now owns 81,728 shares of the oil and gas exploration company's stock worth $2,703,000 after buying an additional 36,600 shares during the last quarter. Numerai GP LLC increased its holdings in shares of Forestar Group by 443.0% during the 3rd quarter. Numerai GP LLC now owns 74,729 shares of the oil and gas exploration company's stock valued at $2,013,000 after purchasing an additional 60,968 shares in the last quarter. Jump Financial LLC increased its holdings in shares of Forestar Group by 221.9% during the 3rd quarter. Jump Financial LLC now owns 28,646 shares of the oil and gas exploration company's stock valued at $772,000 after purchasing an additional 19,746 shares in the last quarter. Capula Management Ltd purchased a new stake in Forestar Group during the third quarter worth $1,066,000. Finally, Public Employees Retirement System of Ohio grew its position in Forestar Group by 45.4% during the third quarter. Public Employees Retirement System of Ohio now owns 22,858 shares of the oil and gas exploration company's stock valued at $616,000 after buying an additional 7,133 shares during the period. 35.50% of the stock is owned by hedge funds and other institutional investors.

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.