Forrester Research (NASDAQ:FORR) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Forrester Research (NASDAQ:FORR) from a buy rating to a hold rating in a research report released on Monday, Zacks.com reports.

According to Zacks, “Forrester Research, Inc. is a global research and advisory firm serving professionals in 13 key roles across three distinct client segments. Their clients face progressively complex business and technology decisions every day. To help them understand, strategize, and act upon opportunities brought by change, Forrester provides proprietary research, consumer and business data, custom consulting, events and online communities, and peer-to-peer executive programs. They guide leaders in business technology, marketing and strategy, and the technology industry through independent fact-based insight, ensuring their business success today and tomorrow. “

A number of other research analysts have also recently weighed in on FORR. Barrington Research reiterated a hold rating on shares of Forrester Research in a research note on Wednesday, May 29th. BidaskClub upgraded shares of Forrester Research from a sell rating to a hold rating in a research note on Thursday, July 18th. Maxim Group set a $62.00 target price on shares of Forrester Research and gave the company a buy rating in a research note on Wednesday, July 24th. Finally, TheStreet cut shares of Forrester Research from an a- rating to a c+ rating in a research note on Monday, June 3rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $56.00.

FORR stock traded down $1.93 during trading on Monday, reaching $40.47. The stock had a trading volume of 807 shares, compared to its average volume of 45,298. Forrester Research has a one year low of $36.19 and a one year high of $51.75. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a 50 day moving average price of $47.64. The stock has a market cap of $908.39 million, a P/E ratio of 48.18 and a beta of 0.65.

Forrester Research (NASDAQ:FORR) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.04. Forrester Research had a net margin of 1.00% and a return on equity of 2.61%. The business had revenue of $128.18 million during the quarter, compared to the consensus estimate of $126.76 million. Equities research analysts anticipate that Forrester Research will post -0.52 EPS for the current year.

In other Forrester Research news, Director Gretchen Teichgraeber sold 1,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $45.83, for a total value of $45,830.00. Following the transaction, the director now directly owns 17,701 shares in the company, valued at $811,236.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kelley Hippler sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.03, for a total transaction of $138,090.00. Following the completion of the transaction, the insider now owns 23,253 shares in the company, valued at $1,070,335.59. The disclosure for this sale can be found here. 43.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FORR. BlackRock Inc. lifted its stake in shares of Forrester Research by 0.9% during the 4th quarter. BlackRock Inc. now owns 1,499,011 shares of the technology company’s stock valued at $67,005,000 after buying an additional 13,286 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Forrester Research by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 777,645 shares of the technology company’s stock valued at $34,761,000 after buying an additional 2,723 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Forrester Research by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 137,374 shares of the technology company’s stock valued at $6,140,000 after buying an additional 8,188 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Forrester Research by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 86,601 shares of the technology company’s stock valued at $3,871,000 after buying an additional 1,070 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Forrester Research by 319.4% during the 4th quarter. Bank of America Corp DE now owns 9,089 shares of the technology company’s stock valued at $406,000 after buying an additional 6,922 shares in the last quarter. Hedge funds and other institutional investors own 56.12% of the company’s stock.

Forrester Research Company Profile

Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.

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