Forestar Group (NYSE:FOR) Share Price Crosses Above 200-Day Moving Average - What's Next?

Forestar Group Inc (NYSE:FOR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.70 and traded as high as $22.84. Forestar Group shares last traded at $22.60, with a volume of 99,092 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BTIG Research lowered their price target on Forestar Group from $36.00 to $29.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. JMP Securities assumed coverage on Forestar Group in a report on Tuesday. They issued a "market outperform" rating and a $30.00 target price for the company. Finally, Citizens Jmp started coverage on Forestar Group in a report on Tuesday. They issued an "outperform" rating and a $30.00 target price for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.20.

Forestar Group Trading Down 0.8%

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53. The company's fifty day moving average is $20.10 and its 200-day moving average is $21.64. The firm has a market capitalization of $1.13 billion, a P/E ratio of 6.72 and a beta of 1.40.

Forestar Group (NYSE:FOR - Get Free Report) last issued its earnings results on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.07). Forestar Group had a net margin of 11.45% and a return on equity of 10.65%. The business had revenue of $351.00 million during the quarter, compared to the consensus estimate of $379.60 million. As a group, sell-side analysts anticipate that Forestar Group Inc will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Elizabeth Parmer sold 1,460 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $20.57, for a total value of $30,032.20. Following the sale, the director directly owned 3,357 shares in the company, valued at $69,053.49. This represents a 30.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On Forestar Group

Several institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its stake in shares of Forestar Group by 119.1% in the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company's stock worth $32,000 after buying an additional 823 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Forestar Group in the fourth quarter worth $38,000. Parallel Advisors LLC boosted its position in shares of Forestar Group by 237.1% during the second quarter. Parallel Advisors LLC now owns 3,533 shares of the oil and gas exploration company's stock worth $71,000 after acquiring an additional 2,485 shares during the last quarter. Strs Ohio bought a new position in Forestar Group during the first quarter valued at $74,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Forestar Group in the 4th quarter worth about $76,000. 35.50% of the stock is owned by hedge funds and other institutional investors.

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.