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

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

Several other research analysts have also recently weighed in on FOR. Citigroup decreased their price target on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. StockNews.com lowered Forestar Group from a “hold” rating to a “sell” rating in a research note on Monday.

Forestar Group Stock Down 0.5 %

Shares of NYSE FOR opened at $23.97 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.21 billion, a P/E ratio of 6.71 and a beta of 1.74. Forestar Group has a 52 week low of $23.38 and a 52 week high of $40.92. The business has a 50-day simple moving average of $26.95 and a two-hundred day simple moving average of $29.73.

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

Institutional Trading of Forestar Group

A number of hedge funds have recently made changes to their positions in FOR. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Forestar Group by 4.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,831 shares of the oil and gas exploration company’s stock worth $286,000 after buying an additional 392 shares in the last quarter. Carolina Wealth Advisors LLC lifted its holdings in shares of Forestar Group by 2.3% in the 4th quarter. Carolina Wealth Advisors LLC now owns 20,589 shares of the oil and gas exploration company’s stock worth $534,000 after acquiring an additional 454 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Forestar Group by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock valued at $349,000 after purchasing an additional 765 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Forestar Group during the 3rd quarter valued at $32,000. Finally, nVerses Capital LLC lifted its stake in Forestar Group by 500.0% in the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after purchasing an additional 1,000 shares during the last quarter. 35.50% of the stock is owned by institutional investors.

About Forestar Group

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.