Forestar Group (NYSE:FOR) Hits New 12-Month Low – Here’s Why

Forestar Group Inc. (NYSE:FOR) hit a new 52-week low during trading on Thursday . The company traded as low as $26.00 and last traded at $26.11, with a volume of 190732 shares trading hands. The stock had previously closed at $26.99.

Forestar Group Stock Performance

The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average of $30.06 and a 200 day moving average of $30.91. The stock has a market capitalization of $1.32 billion, a P/E ratio of 6.47 and a beta of 1.72.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $1.60 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 during the quarter, compared to the consensus estimate of $503.76 million. During the same period last year, the firm earned $1.44 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts anticipate that Forestar Group Inc. will post 3.67 EPS for the current fiscal year.

Insider Transactions at Forestar Group

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.58, for a total transaction of $65,160.00. Following the sale, the director now directly owns 5,951 shares in the company, valued at $193,883.58. This represents a 25.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is owned by insiders.

Institutional Trading of Forestar Group

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in Forestar Group by 13.7% during the 3rd quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock worth $11,668,000 after acquiring an additional 43,369 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Forestar Group by 2.3% during the third quarter. Franklin Resources Inc. now owns 55,068 shares of the oil and gas exploration company’s stock valued at $1,748,000 after purchasing an additional 1,218 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Forestar Group in the third quarter valued at approximately $233,000. Arete Wealth Advisors LLC bought a new position in Forestar Group in the 3rd quarter worth approximately $227,000. Finally, Barclays PLC lifted its holdings in Forestar Group by 20.3% during the 3rd quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company’s stock worth $1,865,000 after buying an additional 9,733 shares in the last quarter. 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.