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

Forestar Group (NYSE:FOR) had its price target decreased by analysts at Citigroup from $43.00 to $39.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. Citigroup’s price objective suggests a potential upside of 51.93% from the stock’s previous close.

Forestar Group Stock Performance

FOR traded down $0.24 during trading on Monday, hitting $25.67. The stock had a trading volume of 112,149 shares, compared to its average volume of 124,656. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.61. The company has a 50 day moving average price of $28.82 and a 200-day moving average price of $30.46. Forestar Group has a one year low of $25.27 and a one year high of $40.92. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 6.40 and a beta of 1.72.

Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business posted $1.44 earnings per share. Forestar Group’s quarterly revenue was up .3% on a year-over-year basis. As a group, research analysts predict that Forestar Group will post 3.67 EPS for the current year.

Institutional Investors Weigh In On Forestar Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Forestar Group by 9.0% during the 2nd 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 acquiring an additional 201,032 shares during the period. Woodson Capital Management LP increased its position in shares of Forestar Group by 12.0% in the third quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock worth $18,127,000 after purchasing an additional 60,000 shares during the period. American Century Companies Inc. raised its stake in Forestar Group by 22.5% in the second quarter. American Century Companies Inc. now owns 461,388 shares of the oil and gas exploration company’s stock valued at $14,760,000 after purchasing an additional 84,861 shares in the last quarter. State Street Corp lifted its position in Forestar Group by 0.9% during the third quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company’s stock worth $13,838,000 after purchasing an additional 3,922 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Forestar Group by 13.7% during the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock worth $11,668,000 after buying an additional 43,369 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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.