Forestar Group (NYSE:FOR) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Forestar Group (NYSE:FOR) from a sell rating to a hold rating in a research report sent to investors on Monday.

A number of other analysts also recently issued reports on the stock. Citigroup cut their price objective 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. JPMorgan Chase & Co. cut their price objective on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th.

Forestar Group Stock Performance

Shares of FOR stock opened at $22.80 on Monday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 6.39 and a beta of 1.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The company has a 50-day simple moving average of $25.55 and a 200 day simple moving average of $29.03. Forestar Group has a 52 week low of $22.47 and a 52 week high of $40.92.

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

Hedge Funds Weigh In On Forestar Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new position in shares of Forestar Group in the 3rd quarter valued at approximately $32,000. nVerses Capital LLC raised its position in shares of Forestar Group by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock valued at $39,000 after buying an additional 1,000 shares in the last quarter. R Squared Ltd acquired a new position in shares of Forestar Group in the 4th quarter valued at approximately $95,000. Heck Capital Advisors LLC acquired a new position in Forestar Group during the 4th quarter worth approximately $112,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Forestar Group during the 3rd quarter worth approximately $172,000. 35.50% of the stock is currently owned by institutional investors and hedge funds.

About Forestar Group

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.