Forestar Group (NYSE:FOR) Hits New 12-Month Low – Time to Sell?

Forestar Group Inc. (NYSE:FOR) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $24.05 and last traded at $24.05, with a volume of 562 shares changing hands. The stock had previously closed at $25.10.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut their target price on Forestar Group from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

Forestar Group Stock Performance

The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 6.42 and a beta of 1.74. The firm has a 50-day moving average of $27.98 and a 200-day moving average of $30.15.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 EPS for the quarter, beating the consensus estimate 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 company earned $1.44 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, sell-side analysts predict that Forestar Group Inc. will post 3.67 earnings per share for the current year.

Institutional Investors Weigh In On Forestar Group

Several hedge funds have recently added to or reduced their stakes in FOR. First Eagle Investment Management LLC purchased a new stake in Forestar Group in the second quarter valued at $6,592,000. Dimensional Fund Advisors LP boosted its holdings in Forestar Group by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock valued at $78,012,000 after purchasing an additional 201,032 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Forestar Group by 22.5% during the 2nd quarter. American Century Companies Inc. now owns 461,388 shares of the oil and gas exploration company’s stock worth $14,760,000 after acquiring an additional 84,861 shares in the last quarter. Woodson Capital Management LP boosted its stake in shares of Forestar Group by 12.0% during the 3rd quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock worth $18,127,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Moody Aldrich Partners LLC boosted its stake in shares of Forestar Group by 27.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 216,354 shares of the oil and gas exploration company’s stock worth $7,003,000 after acquiring an additional 46,250 shares in the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

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.