Forestar Group (NYSE:FOR) Upgraded at StockNews.com

StockNews.com upgraded shares of Forestar Group (NYSE:FOR) from a sell rating to a hold rating in a research note released on Monday.

A number of other equities analysts also recently weighed in on FOR. Citigroup reduced their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price target on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th.

Forestar Group Stock Performance

Shares of FOR stock opened at $22.80 on Monday. The stock has a 50-day moving average of $25.55 and a 200-day moving average of $29.03. Forestar Group has a one year low of $22.47 and a one year high of $40.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market cap of $1.16 billion, a PE ratio of 6.39 and a beta of 1.72.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The business had revenue of $250.40 million for the quarter, compared to the consensus estimate of $318.00 million. Forestar Group’s revenue for the quarter was down 18.1% on a year-over-year basis. As a group, sell-side analysts expect that Forestar Group will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Forestar Group

Several large investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Forestar Group by 4.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,831 shares of the oil and gas exploration company’s stock valued at $286,000 after buying an additional 392 shares during the last quarter. Carolina Wealth Advisors LLC boosted its holdings in shares of Forestar Group by 2.3% in the 4th quarter. Carolina Wealth Advisors LLC now owns 20,589 shares of the oil and gas exploration company’s stock valued at $534,000 after buying an additional 454 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Forestar Group by 10.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company’s stock valued at $170,000 after buying an additional 602 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Forestar Group by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock valued at $349,000 after buying an additional 765 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Forestar Group during the 3rd quarter valued at $32,000. 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.