Forrester Research (NASDAQ:FORR)‘s stock had its “hold” rating reaffirmed by stock analysts at Barrington Research in a research note issued to investors on Monday, October 21st, TipRanks reports.
A number of other analysts have also issued reports on FORR. BidaskClub raised Forrester Research from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 16th. Maxim Group reaffirmed 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. ValuEngine raised Forrester Research from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. 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. Finally, Sidoti started 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 issued a buy rating to the stock. Forrester Research currently has an average rating of “Buy” and an average target price of $51.00.
Forrester Research stock traded up $0.28 during mid-day trading on Monday, hitting $37.01. The company’s stock had a trading volume of 2,226 shares, compared to its average volume of 49,876. The firm’s 50 day moving average is $34.11 and its 200 day moving average is $41.05. The company has a market cap of $685.48 million, a PE ratio of 44.06 and a beta of 0.72. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.61 and a quick ratio of 0.64. Forrester Research has a 52-week low of $30.76 and a 52-week high of $51.75.
Forrester Research (NASDAQ:FORR) last posted its quarterly earnings results on Thursday, October 24th. The technology company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.05. The company had revenue of $108.60 million during the quarter, compared to the consensus estimate of $107.21 million. Forrester Research had a negative return on equity of 6.13% and a negative net margin of 2.08%. As a group, analysts forecast that Forrester Research will post -0.7 EPS for the current year.
In other news, Director Neil Bradford acquired 3,040 shares of Forrester Research stock in a transaction on Tuesday, August 20th. The stock was bought at an average price of $32.63 per share, for a total transaction of $99,195.20. Following the transaction, the director now owns 8,809 shares of the company’s stock, valued at $287,437.67. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 43.40% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC raised its position in Forrester Research by 27.8% in the 1st quarter. MetLife Investment Advisors LLC now owns 4,738 shares of the technology company’s stock valued at $229,000 after purchasing an additional 1,031 shares during the last quarter. Grandview Asset Management LLC acquired a new stake in shares of Forrester Research in the 2nd quarter valued at $430,000. Bessemer Group Inc. increased its stake in shares of Forrester Research by 4.3% in the 2nd quarter. Bessemer Group Inc. now owns 34,300 shares of the technology company’s stock valued at $1,613,000 after buying an additional 1,400 shares during the period. Arizona State Retirement System increased its stake in shares of Forrester Research by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 16,016 shares of the technology company’s stock valued at $753,000 after buying an additional 238 shares during the period. Finally, Roubaix Capital LLC increased its stake in shares of Forrester Research by 5.1% in the 2nd quarter. Roubaix Capital LLC now owns 107,419 shares of the technology company’s stock valued at $5,052,000 after buying an additional 5,223 shares during the period. Institutional investors and hedge funds own 53.86% 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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