Zacks: Forestar Group Inc. (FOR) Receives Average Rating of “Strong Buy” from Analysts

Forestar Group Inc. (NYSE:FOR) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price objective of $23.00 for the company and are expecting that the company will post $0.08 EPS for the current quarter, according to Zacks. Zacks has also assigned Forestar Group an industry rank of 173 out of 256 based on the ratings given to its competitors.

Separately, BTIG Research started coverage on shares of Forestar Group in a report on Monday, April 15th. They issued a “buy” rating and a $23.00 price target on the stock.

Shares of Forestar Group stock opened at $18.54 on Monday. Forestar Group has a 12-month low of $12.77 and a 12-month high of $25.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.23 and a quick ratio of 1.23.

Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in shares of Forestar Group by 1,217.5% in the first quarter. Bank of Montreal Can now owns 2,029 shares of the oil and gas exploration company’s stock worth $35,000 after buying an additional 1,875 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Forestar Group by 299.8% in the first quarter. BNP Paribas Arbitrage SA now owns 2,199 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 1,649 shares in the last quarter. Millennium Management LLC purchased a new stake in Forestar Group in the fourth quarter valued at approximately $175,000. MetLife Investment Advisors LLC purchased a new stake in Forestar Group in the third quarter valued at approximately $180,000. Finally, Prudential Financial Inc. raised its stake in Forestar Group by 6.8% in the fourth quarter. Prudential Financial Inc. now owns 14,712 shares of the oil and gas exploration company’s stock valued at $204,000 after purchasing an additional 939 shares in the last quarter. 21.46% of the stock is currently owned by hedge funds and other institutional investors.

About Forestar Group

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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