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

Forestar Group (NYSE:FOR) had its price target reduced by BTIG Research from $36.00 to $29.00 in a research report sent to investors on Monday,Benzinga reports. BTIG Research currently has a buy rating on the oil and gas exploration company’s stock.

Several other brokerages have also recently issued reports on FOR. 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. JPMorgan Chase & Co. decreased their price objective on Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com upgraded Forestar Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 26th.

Forestar Group Trading Up 0.5 %

Shares of FOR opened at $19.44 on Monday. The firm has a market cap of $985.12 million, a P/E ratio of 5.45 and a beta of 1.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. Forestar Group has a 1 year low of $18.00 and a 1 year high of $37.21. The company has a 50 day simple moving average of $21.26 and a two-hundred day simple moving average of $25.63.

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

Insider Activity

In related news, CEO Anthony W. Oxley purchased 4,300 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the acquisition, the chief executive officer now owns 4,300 shares of the company’s stock, valued at approximately $99,502. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FOR. Lazard Asset Management LLC bought a new stake in shares of Forestar Group in the 4th quarter worth about $38,000. NewEdge Advisors LLC bought a new stake in Forestar Group in the fourth quarter worth about $76,000. R Squared Ltd purchased a new position in shares of Forestar Group during the fourth quarter valued at approximately $95,000. Heck Capital Advisors LLC purchased a new position in shares of Forestar Group during the fourth quarter valued at approximately $112,000. Finally, SG Americas Securities LLC grew its stake in shares of Forestar Group by 43.3% during the fourth quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company’s stock valued at $148,000 after buying an additional 1,731 shares during the last quarter. Institutional investors own 35.50% of the company’s stock.

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.