Forrester Research, Inc. (FORR) Given Consensus Recommendation of “Hold” by Analysts

Forrester Research, Inc. (NASDAQ:FORR) has been given a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating. Forrester Research’s rating score has declined by 28.8% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Zacks has also assigned Forrester Research an industry rank of 36 out of 265 based on the ratings given to its competitors.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Forrester Research from a “sell” rating to a “hold” rating in a report on Monday, August 14th. BidaskClub lowered shares of Forrester Research from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

In related news, Director George Hornig sold 11,530 shares of Forrester Research stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $46.62, for a total transaction of $537,528.60. Following the sale, the director now directly owns 18,921 shares in the company, valued at approximately $882,097.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott Chouinard sold 887 shares of Forrester Research stock in a transaction on Monday, October 30th. The stock was sold at an average price of $44.25, for a total transaction of $39,249.75. Following the sale, the insider now owns 2,261 shares in the company, valued at $100,049.25. The disclosure for this sale can be found here. Insiders have sold a total of 23,722 shares of company stock worth $1,097,617 over the last quarter. 44.30% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in FORR. BNP Paribas Arbitrage SA raised its stake in Forrester Research by 51.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,082 shares of the technology company’s stock worth $121,000 after acquiring an additional 1,051 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Forrester Research by 59.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 3,660 shares of the technology company’s stock worth $153,000 after acquiring an additional 1,370 shares in the last quarter. QS Investors LLC raised its stake in Forrester Research by 9.7% during the 2nd quarter. QS Investors LLC now owns 6,130 shares of the technology company’s stock worth $240,000 after acquiring an additional 544 shares in the last quarter. Aperio Group LLC raised its stake in Forrester Research by 14.5% during the 2nd quarter. Aperio Group LLC now owns 6,803 shares of the technology company’s stock worth $266,000 after acquiring an additional 860 shares in the last quarter. Finally, Seizert Capital Partners LLC raised its stake in Forrester Research by 5.2% during the 2nd quarter. Seizert Capital Partners LLC now owns 6,834 shares of the technology company’s stock worth $268,000 after acquiring an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 54.42% of the company’s stock.

Forrester Research (NASDAQ FORR) traded down $0.30 during trading on Tuesday, reaching $44.75. 19,500 shares of the company’s stock were exchanged, compared to its average volume of 44,462. The firm has a market cap of $804.38, a price-to-earnings ratio of 43.74, a PEG ratio of 4.08 and a beta of 0.46. Forrester Research has a 12 month low of $34.95 and a 12 month high of $47.75.

Forrester Research (NASDAQ:FORR) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.07. Forrester Research had a net margin of 5.70% and a return on equity of 13.80%. The business had revenue of $80.40 million for the quarter, compared to analyst estimates of $78.92 million. During the same period last year, the business earned $0.32 EPS. The company’s revenue was up 3.9% on a year-over-year basis. analysts anticipate that Forrester Research will post 0.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.70%. Forrester Research’s payout ratio is 73.79%.

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About Forrester Research

Forrester Research, Inc (Forrester) is an independent research, data, and advisory services firm. The Company offers research, data, advisory and related services that are thematic, prescriptive and executable, and that provide a perspective on the changing business environment. Its segments include Research, Product and Project Consulting.

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