Forestar Group (NYSE:FOR – Get Rating) had its target price cut by analysts at Wells Fargo & Company from $20.00 to $16.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the oil and gas exploration company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 18.87% from the stock’s current price.
A number of other research analysts have also recently issued reports on FOR. Citigroup cut their price objective on Forestar Group from $30.00 to $25.00 in a report on Thursday, April 28th. TheStreet cut Forestar Group from a “b-” rating to a “c+” rating in a report on Monday, May 23rd. BTIG Research reissued a “buy” rating and set a $24.00 price objective on shares of Forestar Group in a report on Friday, April 22nd. Finally, StockNews.com raised Forestar Group from a “hold” rating to a “buy” rating in a report on Monday, April 25th.
Shares of FOR stock opened at $13.46 on Friday. The stock has a market cap of $669.50 million, a P/E ratio of 4.52 and a beta of 1.84. Forestar Group has a one year low of $13.23 and a one year high of $22.60. The stock has a fifty day moving average price of $16.06 and a 200 day moving average price of $18.13. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.92 and a quick ratio of 0.92.
Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Forestar Group by 27.4% in the third quarter. Royal Bank of Canada now owns 3,617 shares of the oil and gas exploration company’s stock worth $68,000 after purchasing an additional 778 shares during the period. Citigroup Inc. increased its position in Forestar Group by 110.3% in the fourth quarter. Citigroup Inc. now owns 4,614 shares of the oil and gas exploration company’s stock worth $100,000 after purchasing an additional 2,420 shares during the period. BNP Paribas Arbitrage SA increased its position in Forestar Group by 120.2% in the third quarter. BNP Paribas Arbitrage SA now owns 4,819 shares of the oil and gas exploration company’s stock worth $90,000 after purchasing an additional 2,631 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Forestar Group in the fourth quarter worth about $150,000. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Forestar Group in the fourth quarter worth about $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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