Forestar Group (NYSE:FOR) Sees Large Volume Increase

Shares of Forestar Group Inc. (NYSE:FOR - Get Free Report) saw an uptick in trading volume on Thursday . 101,232 shares were traded during mid-day trading, a decline of 53% from the previous session's volume of 215,066 shares.The stock last traded at $32.45 and had previously closed at $34.16.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Forestar Group from a "buy" rating to a "hold" rating in a research report on Saturday, April 13th.

Forestar Group Stock Down 8.4 %

The stock has a market capitalization of $1.56 billion, a P/E ratio of 8.53 and a beta of 1.71. The firm has a 50-day simple moving average of $35.77 and a 200 day simple moving average of $32.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 2.01.

Forestar Group (NYSE:FOR - Get Free Report) last issued its earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.20. Forestar Group had a return on equity of 13.85% and a net margin of 12.08%. The business had revenue of $305.90 million during the quarter, compared to the consensus estimate of $273.00 million. During the same period in the previous year, the company posted $0.42 earnings per share. On average, equities research analysts forecast that Forestar Group Inc. will post 3.93 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC boosted its position in Forestar Group by 0.4% in the third quarter. LPL Financial LLC now owns 101,598 shares of the oil and gas exploration company's stock worth $2,737,000 after purchasing an additional 403 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Forestar Group by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,908 shares of the oil and gas exploration company's stock valued at $295,000 after buying an additional 511 shares during the period. Tudor Investment Corp Et Al raised its stake in shares of Forestar Group by 0.9% in the second quarter. Tudor Investment Corp Et Al now owns 57,642 shares of the oil and gas exploration company's stock valued at $1,300,000 after buying an additional 531 shares during the period. Legal & General Group Plc raised its stake in shares of Forestar Group by 3.7% during the 4th quarter. Legal & General Group Plc now owns 17,696 shares of the oil and gas exploration company's stock valued at $585,000 after purchasing an additional 637 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Forestar Group by 1,601.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company's stock valued at $28,000 after purchasing an additional 977 shares during the period. Hedge funds and other institutional investors own 35.50% of the company's stock.

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.