Citigroup Cuts Forestar Group (NYSE:FOR) Price Target to $39.00

Forestar Group (NYSE:FOR - Get Free Report) had its price target decreased by analysts at Citigroup from $43.00 to $39.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the oil and gas exploration company's stock. Citigroup's price objective suggests a potential upside of 52.58% from the company's current price.

Forestar Group Price Performance

FOR traded down $0.35 during midday trading on Monday, hitting $25.56. The company had a trading volume of 159,043 shares, compared to its average volume of 142,248. Forestar Group has a twelve month low of $25.27 and a twelve month high of $40.92. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.61 and a current ratio of 1.61. The firm's 50-day simple moving average is $28.70 and its 200-day simple moving average is $30.41. The company has a market capitalization of $1.30 billion, a PE ratio of 6.37 and a beta of 1.72.

Forestar Group (NYSE:FOR - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.31 by $0.29. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The company had revenue of $551.40 million during the quarter, compared to analysts' expectations of $503.76 million. During the same period last year, the firm earned $1.44 EPS. The business's revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts predict that Forestar Group will post 3.67 EPS for the current fiscal year.

Institutional Trading of Forestar Group

Several institutional investors and hedge funds have recently made changes to their positions in FOR. Dimensional Fund Advisors LP lifted 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 valued at $78,012,000 after buying an additional 201,032 shares during the period. Woodson Capital Management LP raised its holdings in Forestar Group by 12.0% in the third quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company's stock worth $18,127,000 after purchasing an additional 60,000 shares during the period. American Century Companies Inc. grew its holdings in shares of Forestar Group by 22.5% in the 2nd quarter. American Century Companies Inc. now owns 461,388 shares of the oil and gas exploration company's stock valued at $14,760,000 after buying an additional 84,861 shares during the period. State Street Corp grew its holdings in shares of Forestar Group by 0.9% in the 3rd quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company's stock valued at $13,838,000 after buying an additional 3,922 shares during the period. Finally, Principal Financial Group Inc. raised its stake 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 during the period. Institutional investors 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.