Forestar Group Inc. (NYSE:FOR - Get Free Report) shares reached a new 52-week low on Wednesday . The stock traded as low as $18.86 and last traded at $19.27, with a volume of 345764 shares traded. The stock had previously closed at $19.45.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on FOR shares. Citigroup decreased their target price on Forestar Group from $39.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price target 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. BTIG Research reduced their target price on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Finally, StockNews.com raised Forestar Group from a "sell" rating to a "hold" rating in a report on Wednesday, February 26th.
View Our Latest Stock Report on Forestar Group
Forestar Group Price Performance
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 business has a 50-day simple moving average of $20.70 and a two-hundred day simple moving average of $24.85. The stock has a market capitalization of $988.93 million, a price-to-earnings ratio of 5.44 and a beta of 1.46.
Forestar Group (NYSE:FOR - Get Free Report) last released its earnings results on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.07). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The firm had revenue of $351.00 million for the quarter, compared to analyst estimates of $379.60 million. As a group, research analysts predict that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.
Insider Activity at Forestar Group
In related news, CEO Anthony W. Oxley purchased 4,300 shares of the company's stock in a transaction on Friday, February 14th. The shares were bought at an average price of $23.14 per share, with a total value of $99,502.00. Following the completion of the acquisition, the chief executive officer now owns 4,300 shares of the company's stock, valued at approximately $99,502. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.40% of the company's stock.
Hedge Funds Weigh In On Forestar Group
A number of hedge funds have recently modified their holdings of FOR. Principal Financial Group Inc. increased its stake in 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 worth $11,668,000 after purchasing an additional 43,369 shares in the last quarter. Empowered Funds LLC increased its position 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 worth $8,566,000 after acquiring an additional 12,473 shares in the last quarter. Barclays PLC raised its holdings in shares of Forestar Group by 20.3% during the third quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company's stock valued at $1,865,000 after acquiring an additional 9,733 shares during the period. Swedbank AB purchased a new stake in shares of Forestar Group in the 4th quarter valued at approximately $1,296,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Forestar Group by 15.6% in the 4th quarter. Bank of New York Mellon Corp now owns 114,372 shares of the oil and gas exploration company's stock valued at $2,965,000 after acquiring an additional 15,395 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.
Forestar Group Company Profile
(
Get Free Report)
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.
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