BTIG Research Lowers Forestar Group (NYSE:FOR) Price Target to $29.00

Forestar Group (NYSE:FOR) had its price target cut by equities researchers at BTIG Research from $36.00 to $29.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. BTIG Research’s target price indicates a potential upside of 58.73% from the stock’s current price.

Other analysts have also issued reports about the company. Citigroup reduced their target price on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. StockNews.com raised Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th.

Forestar Group Stock Down 3.5 %

NYSE FOR traded down $0.66 on Monday, reaching $18.27. The company had a trading volume of 144,625 shares, compared to its average volume of 210,473. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market capitalization of $925.83 million, a price-to-earnings ratio of 5.12 and a beta of 1.53. The company’s fifty day moving average is $21.48 and its 200-day moving average is $25.81. Forestar Group has a 1-year low of $18.00 and a 1-year high of $37.21.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.07). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The firm had revenue of $351.00 million for the quarter, compared to the consensus estimate of $379.60 million. On average, research analysts forecast that Forestar Group will post 3.44 earnings per share for the current fiscal year.

Insider Activity at Forestar Group

In other news, CEO Anthony W. Oxley bought 4,300 shares of Forestar Group stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $23.14 per share, with a total value of $99,502.00. Following the completion of the purchase, the chief executive officer now directly owns 4,300 shares in the company, valued at $99,502. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Forestar Group

Institutional investors have recently modified their holdings of the company. Carolina Wealth Advisors LLC lifted its stake in shares of Forestar Group by 2.3% in the fourth quarter. Carolina Wealth Advisors LLC now owns 20,589 shares of the oil and gas exploration company’s stock worth $534,000 after buying an additional 454 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Forestar Group by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,905 shares of the oil and gas exploration company’s stock worth $283,000 after acquiring an additional 456 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Forestar Group by 3.2% during the fourth quarter. Sterling Capital Management LLC now owns 15,670 shares of the oil and gas exploration company’s stock valued at $406,000 after purchasing an additional 479 shares in 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 worth $170,000 after purchasing an additional 602 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Forestar Group by 9.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,021 shares of the oil and gas exploration company’s stock worth $338,000 after buying an additional 1,076 shares during the last quarter. 35.50% of the stock is currently owned by hedge funds and other 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.