Forestar Group (NYSE:FOR) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Forestar Group (NYSE:FOR) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

A number of other research firms also recently commented on FOR. BTIG Research raised shares of Forestar Group from a neutral rating to a buy rating and set a $32.00 target price on the stock in a research report on Friday, July 21st. Citigroup lifted their price target on shares of Forestar Group from $30.00 to $32.00 and gave the stock a buy rating in a report on Monday, July 24th.

Forestar Group Trading Up 1.9 %

NYSE FOR opened at $31.48 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.64 and a quick ratio of 1.88. The firm’s fifty day moving average price is $26.56 and its 200 day moving average price is $25.15. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 9.42 and a beta of 1.62. Forestar Group has a 12 month low of $13.72 and a 12 month high of $31.95.

Institutional Investors Weigh In On Forestar Group

Institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. grew its holdings in Forestar Group by 1,601.6% in the third quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 977 shares during the period. Lazard Asset Management LLC purchased a new stake in Forestar Group in the third quarter valued at approximately $32,000. Acadian Asset Management LLC purchased a new stake in Forestar Group in the second quarter valued at approximately $34,000. Envestnet Asset Management Inc. purchased a new stake in Forestar Group in the first quarter valued at approximately $35,000. Finally, JBF Capital Inc. grew its holdings in Forestar Group by 25.0% in the second quarter. JBF Capital Inc. now owns 2,500 shares of the oil and gas exploration company’s stock valued at $56,000 after purchasing an additional 500 shares during the period. 35.94% of the stock is currently owned by hedge funds and other institutional investors.

Forestar Group Company Profile

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 local, regional, and national homebuilders. The company is headquartered in Arlington, Texas.