Forestar Group (NYSE:FOR) Receives Market Outperform Rating from Citizens Jmp

Forestar Group (NYSE:FOR)‘s stock had its “market outperform” rating reaffirmed by investment analysts at Citizens Jmp in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $35.00 target price on the oil and gas exploration company’s stock. Citizens Jmp’s price target points to a potential upside of 27.99% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. BTIG Research started coverage on Forestar Group in a research note on Monday, March 30th. They issued a “hold” rating on the stock. Zacks Research cut Forestar Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Weiss Ratings raised Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Forestar Group has an average rating of “Hold” and an average target price of $32.67.

Forestar Group Trading Up 1.2%

FOR stock traded up $0.33 during midday trading on Wednesday, reaching $27.34. The company’s stock had a trading volume of 20,966 shares, compared to its average volume of 153,677. Forestar Group has a 1 year low of $22.81 and a 1 year high of $32.06. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 8.34 and a beta of 1.39. The stock has a fifty day simple moving average of $28.73 and a two-hundred day simple moving average of $27.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.36.

Forestar Group (NYSE:FOR) last issued its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.11). Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The company had revenue of $407.00 million during the quarter, compared to the consensus estimate of $437.73 million. During the same quarter in the prior year, the company earned $0.65 earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Forestar Group in the first quarter valued at about $3,845,000. Total Wealth Planning & Management Inc. purchased a new stake in shares of Forestar Group during the fourth quarter valued at about $552,000. Janney Montgomery Scott LLC bought a new stake in shares of Forestar Group in the 1st quarter valued at about $557,000. Vanguard Group Inc. boosted its holdings in shares of Forestar Group by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 2,813,034 shares of the oil and gas exploration company’s stock valued at $69,285,000 after buying an additional 43,440 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Forestar Group in the 1st quarter worth approximately $654,000. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Forestar Group Company Profile

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.