Forestar Group (NYSE:FOR) PT Lowered to $43.00

Forestar Group (NYSE:FOR) had its price objective decreased by analysts at Citigroup from $46.00 to $43.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Citigroup’s price target would indicate a potential upside of 41.91% from the stock’s previous close.

Separately, StockNews.com cut Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

Forestar Group Stock Performance

Shares of FOR opened at $30.30 on Tuesday. The stock’s 50-day simple moving average is $32.71 and its 200 day simple moving average is $33.83. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 7.54 and a beta of 1.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.85 and a current ratio of 1.85. Forestar Group has a 52-week low of $21.88 and a 52-week high of $40.92.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Thursday, April 18th. The oil and gas exploration company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $333.80 million for the quarter, compared to analysts’ expectations of $345.60 million. Forestar Group had a return on equity of 14.59% and a net margin of 12.99%. Research analysts forecast that Forestar Group will post 3.87 EPS for the current fiscal year.

Insider Buying and Selling at Forestar Group

In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $31.38, for a total value of $62,760.00. Following the sale, the director now owns 7,951 shares of the company’s stock, valued at approximately $249,502.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Anthony W. Oxley acquired 3,210 shares of Forestar Group stock in a transaction dated Wednesday, April 24th. The shares were purchased at an average cost of $31.15 per share, for a total transaction of $99,991.50. Following the transaction, the chief executive officer now owns 3,210 shares of the company’s stock, valued at $99,991.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $31.38, for a total value of $62,760.00. Following the transaction, the director now owns 7,951 shares in the company, valued at $249,502.38. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Forestar Group

Several institutional investors have recently modified their holdings of the company. Transcendent Capital Group LLC bought a new position in Forestar Group during the 1st quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its position in Forestar Group by 115.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 495 shares during the last quarter. Federated Hermes Inc. grew its position in Forestar Group by 1,601.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock worth $28,000 after acquiring an additional 977 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Forestar Group during the 4th quarter worth approximately $35,000. Finally, Allspring Global Investments Holdings LLC grew its position in Forestar Group by 88.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company’s stock worth $147,000 after acquiring an additional 2,077 shares during the last quarter. 35.50% of the stock is currently owned by 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.