Trade Report: The Analysts Set $16.50 Price Target for Forestar Group Inc. (FOR)

The Analysts Set $16.50 Price Target for Forestar Group Inc. (FOR)

Shares of Forestar Group Inc. (NYSE:FOR) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Brokerages have set a one year consensus price objective of $16.50 for the company and are expecting that the company will post $0.04 earnings per share for the current quarter, according to Zacks. Zacks has also given Forestar Group an industry rank of 174 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded shares of Forestar Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th.

Forestar Group (NYSE:FOR) opened at 11.09 on Monday. Forestar Group has a 52 week low of $7.95 and a 52 week high of $14.87. The firm has a 50 day moving average of $11.76 and a 200-day moving average of $12.24. The company’s market capitalization is $380.40 million.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Friday, July 29th. The oil and gas exploration company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.13. Forestar Group had a negative net margin of 66.84% and a positive return on equity of 7.06%. The business had revenue of $46.40 million for the quarter, compared to the consensus estimate of $44.80 million. During the same period in the prior year, the company posted $0.06 earnings per share. Forestar Group’s revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that Forestar Group will post $0.30 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in FOR. Emerald Acquisition Ltd. acquired a new position in Forestar Group during the second quarter valued at approximately $5,474,000. Cove Street Capital LLC increased its stake in shares of Forestar Group by 10.2% in the second quarter. Cove Street Capital LLC now owns 3,536,822 shares of the oil and gas exploration company’s stock worth $42,053,000 after buying an additional 326,737 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Forestar Group by 18.0% in the first quarter. JPMorgan Chase & Co. now owns 1,774,964 shares of the oil and gas exploration company’s stock worth $23,147,000 after buying an additional 270,886 shares during the last quarter. AGF Investments Inc. increased its stake in shares of Forestar Group by 20.4% in the second quarter. AGF Investments Inc. now owns 868,930 shares of the oil and gas exploration company’s stock worth $10,329,000 after buying an additional 146,967 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Forestar Group by 4.8% in the second quarter. BlackRock Fund Advisors now owns 2,265,954 shares of the oil and gas exploration company’s stock worth $26,942,000 after buying an additional 104,708 shares during the last quarter.

About Forestar Group

Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties.

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