Forestar Group (NYSE:FOR) Sets New 52-Week Low – Time to Sell?

Shares of Forestar Group Inc. (NYSE:FOR) reached a new 52-week low on Tuesday . The company traded as low as $22.71 and last traded at $22.76, with a volume of 251863 shares trading hands. The stock had previously closed at $23.86.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FOR shares. StockNews.com lowered Forestar Group from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Citigroup decreased their target price on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th.

Forestar Group Stock Down 4.6 %

The firm has a 50-day simple moving average of $26.50 and a 200 day simple moving average of $29.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $1.15 billion, a P/E ratio of 6.38 and a beta of 1.72.

Forestar Group (NYSE:FOR) last issued its quarterly earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.33). Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $318.00 million. Forestar Group’s revenue was down 18.1% compared to the same quarter last year. On average, equities research analysts forecast that Forestar Group Inc. will post 3.44 EPS for the current year.

Institutional Trading of Forestar Group

A number of hedge funds have recently bought and sold shares of FOR. New York State Common Retirement Fund raised its holdings in shares of Forestar Group by 4.6% in the 4th quarter. New York State Common Retirement Fund now owns 75,281 shares of the oil and gas exploration company’s stock worth $1,951,000 after purchasing an additional 3,300 shares during the period. Empowered Funds LLC raised its stake in shares of Forestar Group by 3.9% in the fourth quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock valued at $8,566,000 after buying an additional 12,473 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of Forestar Group during the 4th quarter valued at $112,000. Swedbank AB bought a new position in shares of Forestar Group during the 4th quarter worth $1,296,000. Finally, R Squared Ltd purchased a new stake in Forestar Group in the 4th quarter worth about $95,000. 35.50% of the stock is currently owned by institutional investors.

Forestar Group Company Profile

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.