Forestar Group (NYSE:FOR) Stock Rating Lowered by TheStreet

Posted by on May 25th, 2022

Forestar Group (NYSE:FOR – Get Rating) was downgraded by research analysts at TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Monday, TheStreetRatingsTable reports.

A number of other research analysts have also commented on FOR. Zacks Investment Research raised shares of Forestar Group from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, April 26th. BTIG Research reaffirmed a “buy” rating and set a $24.00 price objective on shares of Forestar Group in a report on Friday, April 22nd. StockNews.com raised shares of Forestar Group from a “hold” rating to a “buy” rating in a report on Monday, April 25th. Finally, Citigroup decreased their price target on shares of Forestar Group from $30.00 to $25.00 in a research note on Thursday, April 28th.

FOR opened at $15.92 on Monday. The company has a market capitalization of $791.83 million, a price-to-earnings ratio of 5.34 and a beta of 1.84. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.92 and a quick ratio of 0.92. Forestar Group has a 1-year low of $14.21 and a 1-year high of $23.76. The business has a 50 day moving average price of $16.58 and a two-hundred day moving average price of $18.75.

Forestar Group (NYSE:FOR – Get Rating) last announced its earnings results on Thursday, April 21st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter. Forestar Group had a net margin of 9.49% and a return on equity of 15.65%. The company had revenue of $421.60 million for the quarter. During the same period last year, the firm earned $0.59 earnings per share. Equities analysts expect that Forestar Group will post 3.7 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in Forestar Group by 27.4% in the 3rd quarter. Royal Bank of Canada now owns 3,617 shares of the oil and gas exploration company’s stock valued at $68,000 after purchasing an additional 778 shares during the period. Citigroup Inc. raised its position in shares of Forestar Group by 110.3% in the 4th quarter. Citigroup Inc. now owns 4,614 shares of the oil and gas exploration company’s stock valued at $100,000 after buying an additional 2,420 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Forestar Group by 120.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 4,819 shares of the oil and gas exploration company’s stock valued at $90,000 after buying an additional 2,631 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Forestar Group in the 4th quarter valued at approximately $150,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of Forestar Group in the 4th quarter valued at approximately $200,000. 31.96% of the stock is owned by institutional investors and hedge funds.

About Forestar Group (Get Rating)

Forestar Group Inc operates as a residential lot development company in the United States. The acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to homebuilders. The company is headquartered in Arlington, Texas. Forestar Group Inc is a subsidiary of D.R.

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