Forestar Group (NYSE:FOR) Earns Buy Rating from Analysts at BTIG Research

BTIG Research started coverage on shares of Forestar Group (NYSE:FOR) in a report published on Monday, April 15th, Benzinga’s Daily Ratings Newsletter reports. The brokerage issued a buy rating and a $23.00 price objective on the oil and gas exploration company’s stock.

A number of other analysts also recently commented on the stock. ValuEngine upgraded shares of Forestar Group from a sell rating to a hold rating in a research report on Friday, January 11th. Bank of America began coverage on shares of Forestar Group in a research note on Thursday, January 10th. They issued a buy rating and a $19.00 price objective on the stock.

NYSE:FOR traded down $0.20 during mid-day trading on Monday, hitting $19.62. The stock had a trading volume of 36,857 shares, compared to its average volume of 45,945. Forestar Group has a 52 week low of $12.77 and a 52 week high of $25.95. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.22.

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc increased its position in shares of Forestar Group by 5.4% in the third quarter. Vanguard Group Inc now owns 1,968,102 shares of the oil and gas exploration company’s stock worth $41,723,000 after acquiring an additional 100,434 shares in the last quarter. Vanguard Group Inc. grew its position in Forestar Group by 5.4% during the third quarter. Vanguard Group Inc. now owns 1,968,102 shares of the oil and gas exploration company’s stock valued at $41,723,000 after purchasing an additional 100,434 shares in the last quarter. BlackRock Inc. grew its position in Forestar Group by 2.0% during the third quarter. BlackRock Inc. now owns 764,513 shares of the oil and gas exploration company’s stock valued at $16,207,000 after purchasing an additional 15,069 shares in the last quarter. Dimension Capital Management LLC grew its position in Forestar Group by 58.6% during the fourth quarter. Dimension Capital Management LLC now owns 157,617 shares of the oil and gas exploration company’s stock valued at $2,183,000 after purchasing an additional 58,208 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Forestar Group by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 115,042 shares of the oil and gas exploration company’s stock valued at $1,593,000 after purchasing an additional 8,551 shares in the last quarter. 21.42% of the stock is currently owned by institutional investors.

Forestar Group Company Profile

Forestar Group Inc operates as a real estate lot development company. It engages in the acquisition, entitlement, and development of infrastructure for single-family residential communities. Forestar Group Inc sells residential lots primarily to homebuilders, as well as sells commercial properties. The company is headquartered in Austin, Texas.

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