Forestar Group (NYSE:FOR) PT Lowered to $43.00

Forestar Group (NYSE:FOR) had its target price reduced by analysts at Citigroup from $46.00 to $43.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Citigroup’s target price would suggest a potential upside of 41.91% from the company’s current price.

Separately, StockNews.com downgraded Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, April 26th.

Forestar Group Price Performance

Shares of Forestar Group stock opened at $30.30 on Tuesday. The stock’s 50-day simple moving average is $32.71 and its 200-day simple moving average is $33.83. Forestar Group has a 52 week low of $21.88 and a 52 week high of $40.92. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 7.54 and a beta of 1.77. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.48.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data on Thursday, April 18th. The oil and gas exploration company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. Forestar Group had a return on equity of 14.59% and a net margin of 12.99%. The business had revenue of $333.80 million for the quarter, compared to the consensus estimate of $345.60 million. As a group, analysts expect that Forestar Group will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $31.38, for a total value of $62,760.00. Following the sale, the director now directly owns 7,951 shares in the company, valued at $249,502.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $31.38, for a total transaction of $62,760.00. Following the sale, the director now directly owns 7,951 shares of the company’s stock, valued at $249,502.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony W. Oxley acquired 3,210 shares of Forestar Group stock in a transaction on Wednesday, April 24th. The shares were bought at an average cost of $31.15 per share, for a total transaction of $99,991.50. Following the completion of the purchase, the chief executive officer now directly owns 3,210 shares of the company’s stock, valued at $99,991.50. The disclosure for this purchase can be found here. 0.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On Forestar Group

Large investors have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new stake in Forestar Group during the first quarter worth approximately $32,000. EverSource Wealth Advisors LLC increased its stake in Forestar Group by 115.4% during the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 495 shares during the last quarter. Federated Hermes Inc. increased its stake in Forestar Group by 1,601.6% during the third quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock worth $28,000 after acquiring an additional 977 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Forestar Group during the fourth quarter worth approximately $35,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Forestar Group by 88.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company’s stock worth $147,000 after acquiring an additional 2,077 shares during the last quarter. 35.50% of the stock is owned by institutional investors.

About Forestar Group

Forestar Group Inc operates as a residential lot development company in the United States. The company 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 was incorporated in 2005 and is headquartered in Arlington, Texas.