Bank of America Initiates Coverage on Forestar Group (FOR)

Bank of America initiated coverage on shares of Forestar Group (NYSE:FOR) in a research report sent to investors on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $19.00 price objective on the oil and gas exploration company’s stock.

Separately, ValuEngine lowered shares of Forestar Group from a hold rating to a sell rating in a report on Wednesday, January 2nd.

Shares of NYSE:FOR opened at $15.94 on Thursday. Forestar Group has a one year low of $12.77 and a one year high of $26.39. The company has a quick ratio of 16.56, a current ratio of 16.56 and a debt-to-equity ratio of 0.18.

In other Forestar Group news, Director M Ashton Hudson acquired 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 18th. The shares were bought at an average cost of $13.15 per share, with a total value of $328,750.00. Following the completion of the acquisition, the director now directly owns 29,742 shares in the company, valued at approximately $391,107.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Donald J. Tomnitz acquired 3,915 shares of the business’s stock in a transaction that occurred on Tuesday, November 27th. The shares were acquired at an average cost of $16.15 per share, for a total transaction of $63,227.25. Following the completion of the acquisition, the chairman now owns 18,706 shares of the company’s stock, valued at $302,101.90. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 31,915 shares of company stock worth $436,277. 0.15% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc boosted its stake in Forestar Group by 5.4% in the third quarter. Vanguard Group Inc now owns 1,968,102 shares of the oil and gas exploration company’s stock valued at $41,723,000 after acquiring an additional 100,434 shares in the last quarter. Vanguard Group Inc. boosted its stake in Forestar Group by 5.4% in the third quarter. Vanguard Group Inc. now owns 1,968,102 shares of the oil and gas exploration company’s stock valued at $41,723,000 after acquiring an additional 100,434 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in Forestar Group in the third quarter valued at approximately $180,000. GSA Capital Partners LLP boosted its stake in Forestar Group by 26.9% in the third quarter. GSA Capital Partners LLP now owns 16,041 shares of the oil and gas exploration company’s stock valued at $340,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in Forestar Group by 6.8% in the third quarter. Panagora Asset Management Inc. now owns 163,804 shares of the oil and gas exploration company’s stock valued at $3,473,000 after acquiring an additional 10,477 shares in the last quarter. 22.69% of the stock is currently owned by institutional investors.

About Forestar Group

Forestar Group Inc operates as a real estate lot development company. It engages in the acquisition, entitlement, and development of infrastructure for single-family residential communities. Forestar Group Inc sells residential lots primarily to homebuilders, as well as sells commercial properties. The company is headquartered in Austin, Texas.

Recommended Story: What is Depreciation?

Receive News & Ratings for Forestar Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forestar Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply