Forestar Group (NYSE:FOR) Hits New 52-Week Low – Should You Sell?

Forestar Group Inc. (NYSE:FOR)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $22.53 and last traded at $22.82, with a volume of 11341 shares traded. The stock had previously closed at $23.04.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FOR. StockNews.com raised Forestar Group from a “sell” rating to a “hold” rating in a research report on Monday. Citigroup dropped their target price on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th.

Forestar Group Price Performance

The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 6.39 and a beta of 1.72. The stock has a fifty day simple moving average of $25.68 and a 200-day simple moving average of $29.07. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.33). The company had revenue of $250.40 million during the quarter, compared to analyst estimates of $318.00 million. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The business’s revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, equities research analysts expect that Forestar Group Inc. will post 3.44 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FOR. The Manufacturers Life Insurance Company grew its position in Forestar Group by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock worth $349,000 after buying an additional 765 shares in the last quarter. Creative Planning raised its stake in shares of Forestar Group by 35.6% in the 3rd quarter. Creative Planning now owns 13,600 shares of the oil and gas exploration company’s stock valued at $440,000 after buying an additional 3,569 shares in the last quarter. nVerses Capital LLC lifted its holdings in shares of Forestar Group by 500.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after acquiring an additional 1,000 shares during the period. Suncoast Equity Management acquired a new stake in shares of Forestar Group during the 3rd quarter valued at about $365,000. Finally, Moody Aldrich Partners LLC increased its stake in Forestar Group by 27.2% in the third quarter. Moody Aldrich Partners LLC now owns 216,354 shares of the oil and gas exploration company’s stock valued at $7,003,000 after acquiring an additional 46,250 shares during the period. Institutional investors and hedge funds own 35.50% of the company’s stock.

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.