Forestar Group (NYSE:FOR) Price Target Cut to $43.00 by Analysts at Citigroup

Forestar Group (NYSE:FOR) had its price target cut by Citigroup from $46.00 to $43.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the oil and gas exploration company’s stock.

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

Forestar Group Price Performance

Shares of NYSE:FOR opened at $30.30 on Tuesday. The company’s fifty day moving average is $32.69 and its two-hundred day moving average is $33.81. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. Forestar Group has a 12-month low of $21.88 and a 12-month high of $40.92. The company has a market cap of $1.53 billion, a P/E ratio of 7.54 and a beta of 1.77.

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

Insider Buying and Selling

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $31.38, for a total value of $62,760.00. Following the completion of the sale, the director now directly owns 7,951 shares in the company, valued at $249,502.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Forestar Group news, CEO Anthony W. Oxley acquired 3,210 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was purchased at an average cost of $31.15 per share, for a total transaction of $99,991.50. Following the completion of the acquisition, the chief executive officer now owns 3,210 shares of the company’s stock, valued at approximately $99,991.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $31.38, for a total transaction of $62,760.00. Following the completion of the sale, the director now owns 7,951 shares of the company’s stock, valued at $249,502.38. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Forestar Group

A number of hedge funds have recently bought and sold shares of FOR. Hsbc Holdings PLC bought a new stake in Forestar Group during the third quarter valued at about $383,000. Federated Hermes Inc. boosted its holdings in Forestar Group by 1,601.6% during the third quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock valued at $28,000 after acquiring an additional 977 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Forestar Group during the third quarter valued at about $257,000. Trexquant Investment LP boosted its holdings in Forestar Group by 104.7% during the third quarter. Trexquant Investment LP now owns 45,329 shares of the oil and gas exploration company’s stock valued at $1,221,000 after acquiring an additional 23,184 shares during the period. Finally, Glenmede Trust Co. NA bought a new stake in Forestar Group during the third quarter valued at about $679,000. 35.50% of the stock is currently owned by institutional investors.

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.