Forrester Research, Inc. (NASDAQ:FORR) has received an average recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $49.67.
A number of equities analysts have commented on the stock. Barrington Research reaffirmed a “hold” rating on shares of Forrester Research in a research report on Thursday, August 8th. ValuEngine cut shares of Forrester Research from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Sidoti assumed coverage on shares of Forrester Research in a research report on Wednesday, August 28th. They set a “buy” rating and a $55.00 price objective for the company. Maxim Group reaffirmed a “buy” rating and set a $59.00 price objective (down from $62.00) on shares of Forrester Research in a research report on Thursday, August 1st. Finally, BidaskClub cut shares of Forrester Research from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 14th.
FORR stock traded up $0.62 during midday trading on Thursday, reaching $32.32. 49,201 shares of the company were exchanged, compared to its average volume of 56,226. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.64 and a quick ratio of 0.64. The business has a 50-day moving average price of $33.79 and a two-hundred day moving average price of $43.38. Forrester Research has a one year low of $30.76 and a one year high of $51.75. The firm has a market capitalization of $588.10 million, a price-to-earnings ratio of 38.48 and a beta of 0.73.
Forrester Research (NASDAQ:FORR) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.04. Forrester Research had a negative net margin of 0.59% and a negative return on equity of 1.65%. The firm had revenue of $128.18 million during the quarter, compared to analysts’ expectations of $126.76 million. As a group, analysts anticipate that Forrester Research will post -0.57 earnings per share for the current fiscal year.
In other news, Director Neil Bradford bought 3,040 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was bought at an average price of $32.63 per share, with a total value of $99,195.20. Following the completion of the acquisition, the director now owns 8,809 shares of the company’s stock, valued at $287,437.67. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 43.40% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Forrester Research by 2.7% during the second quarter. BlackRock Inc. now owns 1,638,798 shares of the technology company’s stock worth $77,072,000 after buying an additional 42,795 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Forrester Research by 1.1% during the second quarter. Vanguard Group Inc. now owns 1,117,085 shares of the technology company’s stock worth $52,536,000 after buying an additional 11,979 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Forrester Research by 5.3% during the second quarter. Renaissance Technologies LLC now owns 839,018 shares of the technology company’s stock worth $39,459,000 after buying an additional 42,418 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Forrester Research by 0.9% during the second quarter. Northern Trust Corp now owns 159,413 shares of the technology company’s stock worth $7,497,000 after buying an additional 1,451 shares in the last quarter. Finally, Roubaix Capital LLC raised its stake in Forrester Research by 5.1% in the second quarter. Roubaix Capital LLC now owns 107,419 shares of the technology company’s stock valued at $5,052,000 after purchasing an additional 5,223 shares in the last quarter. 55.99% of the stock is owned by institutional investors.
Forrester Research Company Profile
Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.
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