JPMorgan Chase & Co. Cuts Forestar Group (NYSE:FOR) Price Target to $30.00

Forestar Group (NYSE:FOR) had its price target decreased by JPMorgan Chase & Co. from $37.00 to $30.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the oil and gas exploration company’s stock.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Forestar Group from a “hold” rating to a “sell” rating in a report on Monday. Citigroup dropped their price objective on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, January 23rd.

Forestar Group Stock Up 3.0 %

NYSE FOR opened at $24.67 on Tuesday. The stock’s 50 day simple moving average is $26.77 and its 200 day simple moving average is $29.66. Forestar Group has a one year low of $23.32 and a one year high of $40.92. The firm has a market cap of $1.25 billion, a PE ratio of 6.91 and a beta of 1.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 1.61.

Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $318.00 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The business’s revenue was down 18.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Forestar Group will post 3.67 earnings per share for the current fiscal year.

Institutional Trading of Forestar Group

Large investors have recently made changes to their positions in the company. Woodson Capital Management LP increased its holdings in shares of Forestar Group by 12.0% in the third quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock worth $18,127,000 after acquiring an additional 60,000 shares in the last quarter. State Street Corp increased its stake in Forestar Group by 0.9% during the 3rd quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company’s stock worth $13,838,000 after purchasing an additional 3,922 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Forestar Group by 13.7% during the 3rd quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock worth $11,668,000 after buying an additional 43,369 shares during the period. Empowered Funds LLC lifted its stake in Forestar Group by 3.9% in the fourth quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock valued at $8,566,000 after buying an additional 12,473 shares in the last quarter. Finally, Hennessy Advisors Inc. boosted its holdings in shares of Forestar Group by 6.9% in the fourth quarter. Hennessy Advisors Inc. now owns 254,000 shares of the oil and gas exploration company’s stock valued at $6,584,000 after buying an additional 16,300 shares during the period. 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.