Forestar Group (NYSE:FOR) Hits New 12-Month Low – What’s Next?

Forestar Group Inc. (NYSE:FOR) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $20.56 and last traded at $20.67, with a volume of 330 shares trading hands. The stock had previously closed at $21.41.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FOR shares. StockNews.com raised shares of Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price target on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, Citigroup decreased their price objective on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd.

Forestar Group Trading Down 4.1 %

The company’s 50 day simple moving average is $22.55 and its two-hundred day simple moving average is $27.08. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 5.76 and a beta of 1.75.

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

Insider Transactions at Forestar Group

In related news, CEO Anthony W. Oxley acquired 4,300 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $23.14 per share, with a total value of $99,502.00. Following the transaction, the chief executive officer now directly owns 4,300 shares of the company’s stock, valued at $99,502. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FOR. Dimensional Fund Advisors LP increased its position in shares of Forestar Group by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company’s stock valued at $70,541,000 after acquiring an additional 119,357 shares during the period. Janus Henderson Group PLC grew its stake in Forestar Group by 406.1% during the 4th quarter. Janus Henderson Group PLC now owns 125,408 shares of the oil and gas exploration company’s stock valued at $3,247,000 after purchasing an additional 100,629 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Forestar Group by 26.4% in the fourth quarter. First Eagle Investment Management LLC now owns 479,669 shares of the oil and gas exploration company’s stock valued at $12,433,000 after purchasing an additional 100,100 shares during the period. Crestline Management LP purchased a new position in shares of Forestar Group in the fourth quarter worth about $2,333,000. Finally, First Trust Advisors LP lifted its holdings in shares of Forestar Group by 197.8% during the fourth quarter. First Trust Advisors LP now owns 128,989 shares of the oil and gas exploration company’s stock worth $3,343,000 after purchasing an additional 85,669 shares during the period. Hedge funds and other institutional investors 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.