Forestar Group (NYSE:FOR) Price Target Lowered to $43.00 at Citigroup

Forestar Group (NYSE:FOR) had its target price trimmed by Citigroup from $46.00 to $43.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the oil and gas exploration company’s stock.

Separately, StockNews.com downgraded shares of Forestar Group from a buy rating to a hold rating in a report on Friday, April 26th.

Forestar Group Price Performance

Shares of FOR opened at $29.93 on Tuesday. The company has a market capitalization of $1.51 billion, a P/E ratio of 7.45 and a beta of 1.77. Forestar Group has a twelve month low of $21.88 and a twelve month high of $40.92. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $32.73 and a 200 day moving average of $33.86.

Forestar Group (NYSE:FOR) last posted its earnings results on Thursday, April 18th. The oil and gas exploration company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $333.80 million during the quarter, compared to analyst estimates of $345.60 million. Forestar Group had a return on equity of 14.59% and a net margin of 12.99%. As a group, equities research analysts anticipate that Forestar Group will post 3.87 earnings per share for the current fiscal year.

Insider Activity at Forestar Group

In other news, CEO Anthony W. Oxley bought 3,210 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were acquired at an average cost of $31.15 per share, with a total value of $99,991.50. Following the completion of the transaction, the chief executive officer now owns 3,210 shares of the company’s stock, valued at approximately $99,991.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Forestar Group news, CEO Anthony W. Oxley purchased 3,210 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were acquired at an average cost of $31.15 per share, for a total transaction of $99,991.50. Following the completion of the transaction, the chief executive officer now owns 3,210 shares of the company’s stock, valued at $99,991.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $31.38, for a total transaction of $62,760.00. Following the sale, the director now directly owns 7,951 shares of the company’s stock, valued at approximately $249,502.38. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Woodson Capital Management LP purchased a new stake in Forestar Group in the 1st quarter worth approximately $13,367,000. Dimensional Fund Advisors LP boosted its position in shares of Forestar Group by 11.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,026,590 shares of the oil and gas exploration company’s stock worth $67,021,000 after purchasing an additional 200,686 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Forestar Group by 110.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 261,072 shares of the oil and gas exploration company’s stock worth $7,033,000 after purchasing an additional 137,270 shares in the last quarter. Empowered Funds LLC raised its position in shares of Forestar Group by 55.5% during the 1st quarter. Empowered Funds LLC now owns 290,197 shares of the oil and gas exploration company’s stock valued at $11,663,000 after purchasing an additional 103,562 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Forestar Group by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,761,849 shares of the oil and gas exploration company’s stock valued at $74,404,000 after buying an additional 90,291 shares in the last quarter. Institutional investors 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.