Forestar Group (NYSE:FOR) Given New $16.00 Price Target at Wells Fargo & Company

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.

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

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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