Forestar Group (NYSE:FOR) Given New $39.00 Price Target at Citigroup

Forestar Group (NYSE:FOR) had its target price trimmed by Citigroup from $43.00 to $39.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the oil and gas exploration company’s stock.

Forestar Group Trading Down 1.4 %

Shares of NYSE:FOR opened at $25.56 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.44. Forestar Group has a 12-month low of $25.27 and a 12-month high of $40.92. The business has a 50 day moving average of $28.70 and a two-hundred day moving average of $30.41. The company has a market capitalization of $1.30 billion, a PE ratio of 6.37 and a beta of 1.72.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.29. The firm had revenue of $551.40 million during the quarter, compared to analysts’ expectations of $503.76 million. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The business’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 EPS. As a group, analysts forecast that Forestar Group will post 3.67 EPS for the current year.

Institutional Investors Weigh In On Forestar Group

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in Forestar Group by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 31,098 shares of the oil and gas exploration company’s stock worth $995,000 after purchasing an additional 1,186 shares during the period. Victory Capital Management Inc. increased its position in shares of Forestar Group by 89.2% in the second quarter. Victory Capital Management Inc. now owns 11,408 shares of the oil and gas exploration company’s stock valued at $365,000 after buying an additional 5,377 shares in the last quarter. American Century Companies Inc. increased its position in shares of Forestar Group by 22.5% in the second quarter. American Century Companies Inc. now owns 461,388 shares of the oil and gas exploration company’s stock valued at $14,760,000 after buying an additional 84,861 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Forestar Group during the 2nd quarter worth approximately $148,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Forestar Group by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock valued at $78,012,000 after buying an additional 201,032 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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.