Forestar Group (NYSE:FOR) Price Target Cut to $37.00

Forestar Group (NYSE:FOR) had its price target lowered by BTIG Research from $41.00 to $37.00 in a research note published on Friday, Benzinga reports. BTIG Research currently has a buy rating on the oil and gas exploration company’s stock.

Other analysts also recently issued research reports about the stock. Citigroup decreased their price target on shares of Forestar Group from $46.00 to $43.00 and set a buy rating for the company in a research report on Tuesday, July 2nd. StockNews.com downgraded shares of Forestar Group from a buy rating to a hold rating in a research report on Friday, April 26th.

Forestar Group Stock Down 1.9 %

Shares of NYSE:FOR opened at $30.66 on Friday. Forestar Group has a 52-week low of $22.71 and a 52-week high of $40.92. The company has a quick ratio of 1.85, a current ratio of 1.50 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 7.63 and a beta of 1.77. The company has a 50 day moving average of $32.63 and a two-hundred day moving average of $33.74.

Forestar Group (NYSE:FOR) last released 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 12.89% and a return on equity of 13.48%. The business had revenue of $333.80 million during the quarter, compared to the consensus estimate of $345.60 million. As a group, analysts forecast that Forestar Group will post 3.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of Forestar Group 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 transaction, the director now owns 7,951 shares of the company’s stock, valued at $249,502.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Anthony W. Oxley bought 3,210 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were bought at an average cost of $31.15 per share, for a total transaction of $99,991.50. Following the completion of the purchase, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’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 owns 7,951 shares in the company, 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

Hedge funds have recently added to or reduced their stakes in the stock. Denali Advisors LLC lifted its stake in 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 valued at $2,703,000 after buying an additional 36,600 shares during the last quarter. Inspire Investing LLC bought a new stake in Forestar Group in the first quarter valued at $941,000. Allspring Global Investments Holdings LLC lifted its stake in Forestar Group by 918.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 45,195 shares of the oil and gas exploration company’s stock valued at $1,816,000 after buying an additional 40,759 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Forestar Group in the fourth quarter valued at $786,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Forestar Group by 45.4% in 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 last quarter. 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.