Citigroup Lowers Forestar Group (NYSE:FOR) Price Target to $32.00

Forestar Group (NYSE:FOR) had its price target reduced by Citigroup from $39.00 to $32.00 in a report released on Thursday,Benzinga reports. Citigroup currently has a buy rating on the oil and gas exploration company’s stock.

Forestar Group Price Performance

Shares of Forestar Group stock opened at $24.21 on Thursday. The firm has a market cap of $1.23 billion, a P/E ratio of 6.78 and a beta of 1.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.61 and a current ratio of 1.61. Forestar Group has a twelve month low of $23.77 and a twelve month high of $40.92. The firm’s 50-day simple moving average is $27.39 and its 200-day simple moving average is $29.97.

Forestar Group (NYSE:FOR) last issued its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). Forestar Group had a return on equity of 11.91% and a net margin of 12.50%. The company had revenue of $250.40 million during the quarter, compared to analyst estimates of $318,000 billion. Forestar Group’s revenue was down 18.1% on a year-over-year basis. As a group, research analysts expect that Forestar Group will post 3.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Forestar Group

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Forestar Group by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock worth $78,012,000 after purchasing an additional 201,032 shares in the last quarter. Principal Financial Group Inc. lifted its position in Forestar Group by 13.7% during the 3rd quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock worth $11,668,000 after buying an additional 43,369 shares in the last quarter. Barclays PLC grew its holdings in Forestar Group by 20.3% during the 3rd quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company’s stock worth $1,865,000 after acquiring an additional 9,733 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Forestar Group by 73.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 62,237 shares of the oil and gas exploration company’s stock valued at $2,015,000 after acquiring an additional 26,360 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Forestar Group by 0.9% in the third quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company’s stock worth $13,838,000 after acquiring an additional 3,922 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors.

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.