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Forestar Group (FOR) In Focus: Stock Moves 12.7% Higher
Forestar Group Inc. (FOR - Free Report) was a big mover last session, as its shares rose almost 13% on the day. The move came after the company confirmed that its board of directors received an unsolicited, nonbinding proposal from D.R. Horton, Inc. (DHI - Free Report) to acquire 75% of the outstanding shares of Forestar common stock for $16.25 in cash. This led to far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $14.10 to $14.20 in the past one month time frame.
None of the estimates for this stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Forestar Group currently carries a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Forestar Group Inc Price
Forestar Group Inc Price | Forestar Group Inc Quote
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is FOR going up? Or down? Predict to see what others think: Up or Down
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