Forestar Group Inc. (NYSE:FOR) Short Interest Update

Forestar Group Inc. (NYSE:FOR) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 344,200 shares, a decrease of 11.5% from the October 15th total of 389,000 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average daily volume of 135,200 shares, the days-to-cover ratio is currently 2.5 days.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their price target on Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a report on Thursday, July 25th.

Insider Activity at Forestar Group

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.58, for a total value of $65,160.00. Following the transaction, the director now directly owns 5,951 shares in the company, valued at approximately $193,883.58. This represents a 25.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Forestar Group

Hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new stake in shares of Forestar Group during the first quarter worth $393,000. Sei Investments Co. increased its holdings in Forestar Group by 9.3% during the 1st quarter. Sei Investments Co. now owns 67,491 shares of the oil and gas exploration company’s stock worth $2,712,000 after purchasing an additional 5,731 shares during the period. Vanguard Group Inc. increased its holdings in Forestar Group by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 2,805,957 shares of the oil and gas exploration company’s stock worth $112,771,000 after purchasing an additional 28,379 shares during the period. O Shaughnessy Asset Management LLC raised its position in Forestar Group by 11.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 98,337 shares of the oil and gas exploration company’s stock valued at $3,952,000 after purchasing an additional 10,031 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Forestar Group by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,997 shares of the oil and gas exploration company’s stock valued at $442,000 after buying an additional 781 shares during the period. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Forestar Group Price Performance

FOR stock opened at $29.34 on Tuesday. The business’s fifty day moving average price is $31.74 and its 200 day moving average price is $31.80. Forestar Group has a 12-month low of $27.49 and a 12-month high of $40.92. The company has a current ratio of 1.61, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.49 billion, a PE ratio of 7.32 and a beta of 1.76.

Forestar Group (NYSE:FOR) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.29. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The company had revenue of $551.40 million for the quarter, compared to analyst estimates of $503.76 million. During the same period in the prior year, the firm earned $1.44 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Forestar Group will post 3.67 EPS for the current year.

Forestar Group Company Profile

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.