Forestar Group (NYSE:FOR) announced its quarterly earnings results on Thursday. The oil and gas exploration company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.07, Morningstar.com reports. The company had revenue of $88.20 million during the quarter.
NYSE:FOR traded up $0.69 during trading hours on Friday, hitting $20.69. 1,570 shares of the stock were exchanged, compared to its average volume of 35,383. Forestar Group has a 52-week low of $12.77 and a 52-week high of $25.95. The business’s fifty day simple moving average is $19.09. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.22.
A number of brokerages have commented on FOR. Wells Fargo & Co began coverage on Forestar Group in a research report on Monday, July 8th. They issued an “outperform” rating and a $23.00 price target for the company. Buckingham Research set a $30.00 price target on Andersons and gave the stock a “hold” rating in a research note on Wednesday, June 5th. Zacks Investment Research cut Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Finally, BTIG Research assumed coverage on Forestar Group in a research note on Monday, April 15th. They issued a “buy” rating and a $23.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $21.60.
Large investors have recently bought and sold shares of the business. Bank of Montreal Can lifted its holdings in shares of Forestar Group by 1,217.5% during the first quarter. Bank of Montreal Can now owns 2,029 shares of the oil and gas exploration company’s stock valued at $35,000 after purchasing an additional 1,875 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Forestar Group by 299.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,199 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 1,649 shares during the period. Millennium Management LLC acquired a new position in Forestar Group in the 4th quarter worth about $175,000. Prudential Financial Inc. raised its holdings in Forestar Group by 6.8% in the 4th quarter. Prudential Financial Inc. now owns 14,712 shares of the oil and gas exploration company’s stock worth $204,000 after purchasing an additional 939 shares during the period. Finally, Rhumbline Advisers raised its holdings in Forestar Group by 33.5% in the 4th quarter. Rhumbline Advisers now owns 18,088 shares of the oil and gas exploration company’s stock worth $251,000 after purchasing an additional 4,539 shares during the period. Institutional investors own 21.42% of the company’s stock.
Forestar Group Company Profile
Forestar Group Inc operates as a real estate lot development company. It engages in the acquisition, entitlement, and development of infrastructure for single-family residential communities. Forestar Group Inc sells residential lots primarily to homebuilders, as well as sells commercial properties. The company is headquartered in Austin, Texas.
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