Forestar Group (NYSE:FOR) Given New $30.00 Price Target at JPMorgan Chase & Co.

Forestar Group (NYSE:FOR) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $37.00 to $30.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 25.94% from the stock’s previous close.

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

Forestar Group Price Performance

FOR stock traded down $0.28 during midday trading on Tuesday, hitting $23.82. The company’s stock had a trading volume of 25,531 shares, compared to its average volume of 201,291. The company has a quick ratio of 1.61, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. Forestar Group has a 12 month low of $23.38 and a 12 month high of $40.92. The company has a 50 day moving average of $27.05 and a two-hundred day moving average of $29.80. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 6.67 and a beta of 1.74.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.33). The company had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $318,000 billion. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. On average, analysts expect that Forestar Group will post 3.67 EPS for the current year.

Institutional Trading of Forestar Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Forestar Group by 13.7% during the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock valued at $11,668,000 after buying an additional 43,369 shares during the last quarter. Barclays PLC increased its stake in Forestar Group by 20.3% in the third quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company’s stock worth $1,865,000 after purchasing an additional 9,733 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Forestar Group by 73.5% during the third quarter. Los Angeles Capital Management LLC now owns 62,237 shares of the oil and gas exploration company’s stock worth $2,015,000 after purchasing an additional 26,360 shares during the last quarter. State Street Corp lifted its position in shares of Forestar Group by 0.9% during the third 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 during the last quarter. Finally, Woodson Capital Management LP boosted its stake in shares of Forestar Group by 12.0% during the third quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock valued at $18,127,000 after purchasing an additional 60,000 shares during the period. 35.50% of the stock is owned by hedge funds and other institutional investors.

About Forestar Group

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.