Forestar Group Inc. (NYSE:FOR) shares traded -8.56% lower at $15.27 on Wall Street last session.
In accordance with the data, 4 analysts cover Forestar Group Inc. (NYSE:FOR). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $21.00 and a low of $13.50, we find $16.00. Given the previous closing price of $16.70, this indicates a potential downside of -4.19 percent. FOR stock price is now 0.32% away from the 50-day moving average and 7.71% away from the 200-day moving average. The market capitalization of the company currently stands at $750.83M.
It has been rated a hold by 2 analysts and a buy by 2. Brokers who have rated the stock have averaged $16.83 as their price target over the next twelve months.
On April 16, 2021, Wells Fargo recently initiated its ‘Overweight’ rating on the stock quoting a target price of $32, while ‘Wolfe Research’ rates the stock as ‘Outperform’.
In other news, Ringler G.F. (Rick) III, Director sold 3,000 shares of the company’s stock on Dec 19. The stock was sold for $45,499 at an average price of $15.17. Upon completion of the transaction, the Director now directly owns 6,678 shares in the company, valued at $0.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 22, Chief Executive Officer BARTOK DANIEL C bought 2,000 shares of the business’s stock. A total of $23,000 was incurred on buying the stock at an average price of $11.50. This leaves the insider owning 57,993 shares of the company worth $0.89 million. Insiders disposed of 12,584 shares of company stock worth roughly $0.19 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FOR stock. A new stake in Forestar Group Inc. shares was purchased by FIRST TRUST ADVISORS LP during the first quarter worth $719,000. D. E. SHAW & CO., INC. invested $217,000 in shares of FOR during the first quarter. In the first quarter, WIPFLI FINANCIAL ADVISORS LLC, acquired a new stake in Forestar Group Inc. valued at approximately $53,000. FEDERATED HERMES, INC. acquired a new stake in FOR for approximately $40,000. FIRST MANHATTAN CO purchased a new stake in FOR valued at around $38,000 in the second quarter. In total, there are 196 active investors with 36.40% ownership of the company’s stock.
Forestar Group Inc. (NYSE: FOR) opened at $16.33 on Tuesday. During the past 12 months, Forestar Group Inc. has had a low of $10.28 and a high of $20.52. The fifty day moving average price for FOR is $15.22 and a two-hundred day moving average price translates $14.18 for the stock.
The latest earnings results from Forestar Group Inc. (NYSE: FOR) was released for Jun, 2022. According to the Real Estate – Development Company, earnings per share came in at $0.8, missing analysts’ expectations of $0.81 by -0.01. This compares to $0.88 EPS in the same period last year. The net profit margin was 11.80% and return on equity was 15.90% for FOR. The company reported revenue of $381.4 million for the quarter, compared to $418.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -8.91 percent. For the current quarter, analysts expect FOR to generate $289.77M in revenue.
Forestar Group Inc.(FOR) Company Profile
Forestar Group Inc. operates as a residential lot development company in the United States. The acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to homebuilders. The company is headquartered in Arlington, Texas. Forestar Group Inc. is a subsidiary of D.R. Horton, Inc.