Forestar Group (NYSE:FOR) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Forestar briefly crossed above its 200-day moving average of $26.08 (trading as high as $26.48) but recent trades were around $25.81, making this a modest/short-lived technical move.
• Analysts hold a consensus Hold rating with a $31.75 target; Citigroup raised its target to $38 and maintained a Buy, while most other firms rate it Hold.
• The company reported an earnings beat (Q EPS $0.30 vs. $0.21) and 9% revenue growth to $273M, and currently trades at an attractive P/E of 7.89 on a $1.31B market cap.

Forestar Group Inc (NYSE:FOR - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.08 and traded as high as $26.48. Forestar Group shares last traded at $25.8060, with a volume of 177,908 shares.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Citigroup boosted their target price on 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 Forestar Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Wall Street Zen cut Forestar Group from a "buy" rating to a "hold" rating in a research note on Friday, January 23rd. BTIG Research assumed coverage on Forestar Group in a research note on Monday, March 30th. They set a "hold" rating for the company. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Forestar Group in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Forestar Group currently has a consensus rating of "Hold" and a consensus target price of $31.75.

Forestar Group Trading Up 4.4%

The company has a 50-day moving average price of $26.95 and a 200-day moving average price of $26.08. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 7.89 and a beta of 1.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings data on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.09. The business had revenue of $273.00 million during the quarter, compared to analysts' expectations of $265.48 million. Forestar Group had a return on equity of 9.76% and a net margin of 9.90%.The business's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. As a group, research analysts forecast that Forestar Group Inc will post 3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FOR. Rhumbline Advisers lifted its holdings in shares of Forestar Group by 1.1% in the 3rd quarter. Rhumbline Advisers now owns 42,573 shares of the oil and gas exploration company's stock valued at $1,132,000 after purchasing an additional 457 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Forestar Group by 5.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 9,946 shares of the oil and gas exploration company's stock valued at $245,000 after purchasing an additional 500 shares during the last quarter. Comerica Bank lifted its holdings in shares of Forestar Group by 76.5% in 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 last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Forestar Group by 1,206.6% in 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 last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Forestar Group by 0.6% in the 2nd quarter. First Trust Advisors LP now owns 160,204 shares of the oil and gas exploration company's stock valued at $3,204,000 after purchasing an additional 952 shares during the last quarter. 35.50% of the stock is owned by institutional investors and hedge funds.

Forestar Group Company Profile

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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