JPMorgan Chase & Co. Cuts Forestar Group (NYSE:FOR) Price Target to $36.00

Forestar Group (NYSE:FOR) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $37.50 to $36.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 15.50% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. StockNews.com downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Citigroup lowered their price objective on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Finally, BTIG Research cut their target price on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, July 19th.

Forestar Group Stock Up 1.7 %

Shares of NYSE:FOR traded up $0.53 during trading on Thursday, hitting $31.17. 24,964 shares of the company were exchanged, compared to its average volume of 214,666. Forestar Group has a fifty-two week low of $22.71 and a fifty-two week high of $40.92. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 7.75 and a beta of 1.77. The company has a current ratio of 1.50, a quick ratio of 1.85 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average price of $32.49 and a two-hundred day moving average price of $33.70.

Insider Buying and Selling

In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $31.38, for a total value of $62,760.00. Following the sale, the director now owns 7,951 shares in the company, valued at approximately $249,502.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $31.38, for a total transaction of $62,760.00. Following the completion of the sale, the director now owns 7,951 shares of the company’s stock, valued at approximately $249,502.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elizabeth Parmer sold 1,547 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total value of $49,875.28. Following the completion of the sale, the director now directly owns 1,548 shares of the company’s stock, valued at $49,907.52. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Forestar Group

Several institutional investors have recently added to or reduced their stakes in FOR. Transcendent Capital Group LLC bought a new stake in shares of Forestar Group during the 1st quarter valued at $32,000. CWM LLC grew its stake in Forestar Group by 111.6% during the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 559 shares in the last quarter. Family Firm Inc. bought a new stake in Forestar Group during the 2nd quarter worth approximately $34,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Forestar Group in the 4th quarter worth approximately $35,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Forestar Group by 115.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 495 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.