A number of other research analysts also recently weighed in on the company. Barrington Research reissued a “hold” rating on shares of Forrester Research in a report on Thursday, August 8th. Zacks Investment Research raised Forrester Research from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, October 9th. ValuEngine downgraded Forrester Research from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Maxim Group reissued a “buy” rating and issued a $59.00 target price (down previously from $62.00) on shares of Forrester Research in a report on Thursday, August 1st. Finally, Sidoti initiated coverage on Forrester Research in a report on Wednesday, August 28th. They issued a “buy” rating and a $55.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $51.00.
Shares of NASDAQ:FORR traded down $0.13 during midday trading on Wednesday, reaching $36.04. 40,581 shares of the company’s stock traded hands, compared to its average volume of 55,507. The company has a market cap of $671.58 million, a price-to-earnings ratio of 42.90 and a beta of 0.72. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 0.64. Forrester Research has a one year low of $30.76 and a one year high of $51.75. The stock has a 50 day moving average of $34.00 and a 200 day moving average of $41.24.
Forrester Research (NASDAQ:FORR) last announced its quarterly earnings results on Thursday, October 24th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $108.60 million for the quarter, compared to the consensus estimate of $107.21 million. Forrester Research had a negative return on equity of 6.12% and a negative net margin of 2.08%. Sell-side analysts predict that Forrester Research will post -0.7 EPS for the current fiscal year.
In related news, Director Neil Bradford purchased 3,040 shares of Forrester Research stock in a transaction on Tuesday, August 20th. The stock was acquired at an average price of $32.63 per share, for a total transaction of $99,195.20. Following the completion of the transaction, the director now directly owns 8,809 shares in the company, valued at approximately $287,437.67. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 43.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in FORR. Nuveen Asset Management LLC purchased a new stake in shares of Forrester Research during the second quarter worth about $4,392,000. GW&K Investment Management LLC grew its position in shares of Forrester Research by 41.9% during the third quarter. GW&K Investment Management LLC now owns 154,898 shares of the technology company’s stock worth $4,978,000 after purchasing an additional 45,724 shares in the last quarter. BlackRock Inc. boosted its stake in Forrester Research by 2.7% during the second quarter. BlackRock Inc. now owns 1,638,798 shares of the technology company’s stock valued at $77,072,000 after buying an additional 42,795 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Forrester Research by 5.3% during the second quarter. Renaissance Technologies LLC now owns 839,018 shares of the technology company’s stock valued at $39,459,000 after buying an additional 42,418 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Forrester Research during the second quarter valued at approximately $1,916,000. Hedge funds and other institutional investors own 53.93% of the company’s stock.
About Forrester Research
Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.
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