Forestar Group (NYSE:FOR) Sets New 12-Month Low – Here’s What Happened

Shares of Forestar Group Inc. (NYSE:FOR) reached a new 52-week low on Thursday . The company traded as low as $22.38 and last traded at $22.47, with a volume of 77137 shares trading hands. The stock had previously closed at $22.91.

Wall Street Analyst Weigh In

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

Forestar Group Stock Down 2.4 %

The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.13 billion, a P/E ratio of 6.26 and a beta of 1.72. The company’s 50 day moving average price is $24.59 and its two-hundred day moving average price is $28.55.

Forestar Group (NYSE:FOR) last issued its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.33). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The firm had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $318.00 million. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. As a group, research analysts expect that Forestar Group Inc. will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In other Forestar Group news, CEO Anthony W. Oxley purchased 4,300 shares of the stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $23.14 per share, with a total value of $99,502.00. Following the transaction, the chief executive officer now owns 4,300 shares of the company’s stock, valued at approximately $99,502. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is owned by company insiders.

Institutional Trading of Forestar Group

Hedge funds have recently bought and sold shares of the stock. Creative Planning raised its position in shares of Forestar Group by 35.6% in the 3rd quarter. Creative Planning now owns 13,600 shares of the oil and gas exploration company’s stock worth $440,000 after acquiring an additional 3,569 shares in the last quarter. US Bancorp DE lifted its position in shares of Forestar Group by 18.3% during the third quarter. US Bancorp DE now owns 24,741 shares of the oil and gas exploration company’s stock valued at $801,000 after buying an additional 3,819 shares during the last quarter. James Investment Research Inc. boosted its holdings in shares of Forestar Group by 85.1% in the 3rd quarter. James Investment Research Inc. now owns 18,955 shares of the oil and gas exploration company’s stock valued at $614,000 after buying an additional 8,715 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Forestar Group by 13.7% in the 3rd quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock valued at $11,668,000 after buying an additional 43,369 shares in the last quarter. Finally, Summit Global Investments raised its stake in shares of Forestar Group by 5.0% during the 3rd quarter. Summit Global Investments now owns 32,002 shares of the oil and gas exploration company’s stock worth $1,036,000 after acquiring an additional 1,521 shares in the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

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.