Forestar Group (NYSE:FOR) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Technical move: Forestar (NYSE:FOR) crossed above its 200‑day moving average of $26.17, trading as high as $28.71 and last at $28.1160 on volume of 107,931 shares.
• Analyst view: Two analysts rate the stock Buy and four rate it Hold, leaving a MarketBeat consensus rating of "Hold" with a $32.67 average price target.
• Recent results and fundamentals: Quarterly EPS missed estimates ($0.63 vs. $0.72) while revenue beat ($374.3M vs. $372.6M); the company has a $1.43B market cap and a P/E of 8.57.

Forestar Group Inc (NYSE:FOR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.17 and traded as high as $28.71. Forestar Group shares last traded at $28.1160, with a volume of 107,931 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FOR shares. Wall Street Zen cut shares of Forestar Group from a "buy" rating to a "hold" rating in a research note on Friday, January 23rd. BTIG Research started coverage on shares of Forestar Group in a research note on Monday, March 30th. They set a "hold" rating on the stock. Citigroup lifted their price target on shares of Forestar Group from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, January 28th. Zacks Research cut shares of Forestar Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Forestar Group in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $32.67.

Forestar Group Stock Down 0.9%

The stock has a market capitalization of $1.43 billion, a P/E ratio of 8.57 and a beta of 1.45. The company's 50-day moving average price is $26.44 and its 200 day moving average price is $26.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.36.

Forestar Group (NYSE:FOR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.09). The firm had revenue of $374.30 million for the quarter, compared to the consensus estimate of $372.57 million. Forestar Group had a net margin of 9.80% and a return on equity of 9.49%. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. As a group, equities analysts expect that Forestar Group Inc will post 3.06 earnings per share for the current year.

Institutional Trading of Forestar Group

Institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in shares of Forestar Group by 1,206.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company's stock valued at $26,000 after purchasing an additional 917 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Forestar Group during the 4th quarter valued at $27,000. Comerica Bank raised its position in shares of Forestar Group by 76.5% during the 3rd quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company's stock valued at $34,000 after purchasing an additional 550 shares during the period. New York State Teachers Retirement System bought a new stake in shares of Forestar Group during the 1st quarter valued at $44,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Forestar Group by 201.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,105 shares of the oil and gas exploration company's stock valued at $42,000 after purchasing an additional 1,406 shares during the period. 35.50% of the stock is currently owned by institutional investors.

About Forestar Group

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar's integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.

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