Fintel reports that on July 21, 2023, BTIG upgraded their outlook for Forestar Group Inc (NYSE:FOR) from Neutral to Buy .
Analyst Price Forecast Suggests 20.78% Downside
As of July 6, 2023, the average one-year price target for Forestar Group Inc is 21.42. The forecasts range from a low of 20.20 to a high of $23.10. The average price target represents a decrease of 20.78% from its latest reported closing price of 27.04.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Forestar Group Inc is 1,218MM, a decrease of 3.98%. The projected annual non-GAAP EPS is 2.31.
What is the Fund Sentiment?
There are 307 funds or institutions reporting positions in Forestar Group Inc. This is a decrease of 7 owner(s) or 2.23% in the last quarter. Average portfolio weight of all funds dedicated to FOR is 0.08%, an increase of 27.67%. Total shares owned by institutions increased in the last three months by 2.58% to 20,468K shares. 
The put/call ratio of FOR is 3.86, indicating a bearish outlook.
What are Other Shareholders Doing?
Long Pond Capital holds 4,682K shares representing 9.38% ownership of the company. No change in the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 873K shares representing 1.75% ownership of the company. In it's prior filing, the firm reported owning 886K shares, representing a decrease of 1.48%. The firm increased its portfolio allocation in FOR by 41.93% over the last quarter.
Carlson Capital L P holds 644K shares representing 1.29% ownership of the company. In it's prior filing, the firm reported owning 559K shares, representing an increase of 13.26%. The firm increased its portfolio allocation in FOR by 43.31% over the last quarter.
Jpmorgan Chase holds 607K shares representing 1.22% ownership of the company. In it's prior filing, the firm reported owning 402K shares, representing an increase of 33.76%. The firm increased its portfolio allocation in FOR by 40.86% over the last quarter.
Ameriprise Financial holds 602K shares representing 1.21% ownership of the company. In it's prior filing, the firm reported owning 613K shares, representing a decrease of 1.93%. The firm decreased its portfolio allocation in FOR by 5.22% over the last quarter.
Forestar Group Background Information
(This description is provided by the company.)
Forestar Group Inc. is a residential lot development company with operations in 49 markets in 21 states at September 30, 2020 and is a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002.
Additional reading:
- FORESTAR GROUP INC. Consolidated Balance Sheets
- FORESTAR GROUP INC. Consolidated Balance Sheets
- FORESTAR GROUP INC. Consolidated Balance Sheets
- Forestar Group Inc. 2022 Employee Stock Purchase Plan
- List of Subsidiaries of the Company.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
