Forestar Group (NYSE:FOR) Price Target Lowered to $30.00 at JPMorgan Chase & Co.

Forestar Group (NYSE:FOR) had its price target lowered by JPMorgan Chase & Co. from $37.00 to $30.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas exploration company’s stock.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Forestar Group from a “hold” rating to a “sell” rating in a research report on Monday. Citigroup lowered their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd.

Forestar Group Stock Performance

FOR opened at $24.67 on Tuesday. The business’s 50-day simple moving average is $26.77 and its 200 day simple moving average is $29.66. Forestar Group has a 52-week low of $23.32 and a 52-week high of $40.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 0.50. The firm has a market capitalization of $1.25 billion, a PE ratio of 6.91 and a beta of 1.74.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The company had revenue of $250.40 million for the quarter, compared to the consensus estimate of $318.00 million. The company’s quarterly revenue was down 18.1% on a year-over-year basis. As a group, sell-side analysts expect that Forestar Group will post 3.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forestar Group

Several large investors have recently modified their holdings of the stock. Woodson Capital Management LP grew its stake in Forestar Group by 12.0% in 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 buying an additional 60,000 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 acquiring an additional 3,922 shares during the period. Principal Financial Group Inc. grew its position in shares of Forestar Group by 13.7% in the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock valued at $11,668,000 after purchasing an additional 43,369 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Forestar Group by 3.9% during the fourth quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock worth $8,566,000 after purchasing an additional 12,473 shares during the period. Finally, Hennessy Advisors Inc. lifted its holdings in Forestar Group by 6.9% during the 4th quarter. Hennessy Advisors Inc. now owns 254,000 shares of the oil and gas exploration company’s stock worth $6,584,000 after purchasing an additional 16,300 shares during the last quarter. 35.50% of the stock is owned by institutional investors.

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.