JPMorgan Chase & Co. Lowers Forestar Group (NYSE:FOR) Price Target to $30.00

Forestar Group (NYSE:FOR) had its price objective lowered by JPMorgan Chase & Co. from $37.00 to $30.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 25.20% from the company’s previous close.

Several other brokerages also recently weighed in on FOR. Citigroup decreased their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. StockNews.com downgraded shares of Forestar Group from a “hold” rating to a “sell” rating in a report on Monday.

Forestar Group Trading Down 0.2 %

FOR opened at $23.96 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 0.50. Forestar Group has a one year low of $23.32 and a one year high of $40.92. The company has a market cap of $1.21 billion, a P/E ratio of 6.71 and a beta of 1.74. The business’s 50-day simple moving average is $26.85 and its 200-day simple moving average is $29.69.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.33). Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The company had revenue of $250.40 million during the quarter, compared to analyst estimates of $318.00 million. The business’s revenue was down 18.1% compared to the same quarter last year. As a group, equities research analysts expect that Forestar Group will post 3.67 EPS for the current fiscal year.

Institutional Trading of Forestar Group

Several hedge funds and other institutional investors have recently made changes to their positions in FOR. Woodson Capital Management LP lifted its position in shares of Forestar Group by 12.0% during the 3rd quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock valued at $18,127,000 after acquiring an additional 60,000 shares during the period. State Street Corp increased its stake in Forestar Group by 0.9% in the 3rd quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company’s stock valued at $13,838,000 after purchasing an additional 3,922 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Forestar Group by 13.7% during the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock worth $11,668,000 after purchasing an additional 43,369 shares during the last quarter. Empowered Funds LLC boosted its position in Forestar Group by 3.9% during the fourth quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock worth $8,566,000 after purchasing an additional 12,473 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its holdings in Forestar Group by 6.9% in the fourth quarter. Hennessy Advisors Inc. now owns 254,000 shares of the oil and gas exploration company’s stock valued at $6,584,000 after purchasing an additional 16,300 shares during the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Company Profile

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.