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Forestar Group (FOR) Receives a Hold from J.P. Morgan

J.P. Morgan analyst Michael Rehaut maintained a Hold rating on Forestar Group (FORResearch Report) on July 20 and set a price target of $15.50. The company’s shares closed last Thursday at $14.01, close to its 52-week low of $13.06.

According to TipRanks.com, Rehaut is a 3-star analyst with an average return of 1.0% and a 49.0% success rate. Rehaut covers the Consumer Goods sector, focusing on stocks such as Stanley Black & Decker, Green Brick Partners, and Century Communities.

Forestar Group has an analyst consensus of Moderate Buy, with a price target consensus of $20.13, a 40.2% upside from current levels. In a report issued on July 20, BTIG also downgraded the stock to Hold with a $24.00 price target.

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Based on Forestar Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $309 million and net profit of $39.7 million. In comparison, last year the company earned revenue of $313 million and had a net profit of $15.8 million.

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Forestar Group, Inc. is a residential and mixed-use real estate development company. The company was founded in December 2007 and is headquartered in Austin, TX.

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