Citigroup Cuts Forestar Group (NYSE:FOR) Price Target to $39.00

Forestar Group (NYSE:FOR) had its target price lowered by Citigroup from $43.00 to $39.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the oil and gas exploration company’s stock.

Forestar Group Trading Down 0.9 %

NYSE:FOR opened at $25.74 on Monday. The firm has a fifty day simple moving average of $28.58 and a two-hundred day simple moving average of $30.37. Forestar Group has a 12 month low of $25.26 and a 12 month high of $40.92. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 6.42 and a beta of 1.74. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.44.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share 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 for the quarter, compared to analyst estimates of $503.76 million. During the same quarter in the prior year, the business posted $1.44 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Analysts expect that Forestar Group will post 3.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC bought a new stake in shares of Forestar Group in the 2nd quarter worth approximately $6,592,000. Dimensional Fund Advisors LP boosted its position in Forestar Group by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock worth $78,012,000 after purchasing an additional 201,032 shares during the period. American Century Companies Inc. boosted its holdings in Forestar Group by 22.5% in 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 period. Woodson Capital Management LP raised its stake 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 purchasing an additional 60,000 shares during the period. Finally, Moody Aldrich Partners LLC grew its holdings in Forestar Group by 27.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 216,354 shares of the oil and gas exploration company’s stock valued at $7,003,000 after buying an additional 46,250 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.