Forestar Group (NYSE:FOR) Price Target Cut to $39.00 by Analysts at Citigroup

Forestar Group (NYSE:FOR) had its target price cut by Citigroup from $43.00 to $39.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the oil and gas exploration company’s stock.

Forestar Group Price Performance

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

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.29. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The company had revenue of $551.40 million during the quarter, compared to analysts’ expectations of $503.76 million. During the same period last year, the business earned $1.44 EPS. Forestar Group’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities analysts expect that Forestar Group will post 3.67 EPS for the current fiscal year.

Institutional Trading of Forestar Group

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