Forestar Group Inc. (NYSE:FOR) Given Consensus Rating of “Buy” by Analysts
Shares of Forestar Group Inc. (NYSE:FOR) have been given a consensus rating of “Buy” by the six research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $22.00.
Several research analysts have issued reports on FOR shares. Wells Fargo & Co started coverage on Forestar Group in a report on Monday, July 8th. They issued an “outperform” rating and a $23.00 price target on the stock. Zacks Investment Research lowered Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. BTIG Research assumed coverage on Forestar Group in a report on Monday, April 15th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Buckingham Research set a $30.00 target price on Andersons and gave the company a “hold” rating in a report on Wednesday, June 5th.
NYSE:FOR traded up $0.13 on Monday, hitting $20.49. The stock had a trading volume of 29,425 shares, compared to its average volume of 43,545. The company’s fifty day moving average price is $18.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.23 and a current ratio of 1.23. Forestar Group has a 52 week low of $12.77 and a 52 week high of $25.95.
Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of Forestar Group by 1,217.5% during the first quarter. Bank of Montreal Can now owns 2,029 shares of the oil and gas exploration company’s stock valued at $35,000 after acquiring an additional 1,875 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Forestar Group by 299.8% during the first quarter. BNP Paribas Arbitrage SA now owns 2,199 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 1,649 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Forestar Group during the fourth quarter valued at approximately $175,000. Prudential Financial Inc. increased its position in shares of Forestar Group by 6.8% during the fourth quarter. Prudential Financial Inc. now owns 14,712 shares of the oil and gas exploration company’s stock valued at $204,000 after acquiring an additional 939 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Forestar Group by 33.5% during the fourth quarter. Rhumbline Advisers now owns 18,088 shares of the oil and gas exploration company’s stock valued at $251,000 after acquiring an additional 4,539 shares during the last quarter. Institutional investors own 21.42% of the company’s stock.
Forestar Group Company Profile
Forestar Group Inc operates as a real estate lot development company. It engages in the acquisition, entitlement, and development of infrastructure for single-family residential communities. Forestar Group Inc sells residential lots primarily to homebuilders, as well as sells commercial properties. The company is headquartered in Austin, Texas.
Featured Article: Short Selling Stocks, A Beginner’s Guide
Receive News & Ratings for Forestar Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forestar Group and related companies with MarketBeat.com's FREE daily email newsletter.