StockNews.com Upgrades Forestar Group (NYSE:FOR) to Buy

StockNews.com upgraded shares of Forestar Group (NYSE:FOR) from a hold rating to a buy rating in a report issued on Friday.

Forestar Group Stock Up 1.0 %

NYSE FOR opened at $39.63 on Friday. The business has a fifty day moving average price of $34.93 and a 200 day moving average price of $31.69. Forestar Group has a one year low of $14.50 and a one year high of $40.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.01 and a current ratio of 2.01. The company has a market cap of $1.98 billion, a P/E ratio of 10.80 and a beta of 1.71.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.20. Forestar Group had a return on equity of 13.85% and a net margin of 12.08%. The business had revenue of $305.90 million during the quarter, compared to analysts’ expectations of $273.00 million. During the same period in the prior year, the business posted $0.42 EPS. Research analysts anticipate that Forestar Group will post 3.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its stake in shares of Forestar Group by 1,601.6% in the 3rd quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 977 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Forestar Group in the 4th quarter valued at approximately $35,000. Lazard Asset Management LLC purchased a new stake in shares of Forestar Group in the third quarter valued at approximately $32,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Forestar Group by 88.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company’s stock valued at $147,000 after buying an additional 2,077 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Forestar Group in the fourth quarter valued at approximately $147,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

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.