Forestar Group (NYSE:FOR) Hits New 1-Year Low – What’s Next?

Forestar Group Inc. (NYSE:FOR)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $22.71 and last traded at $22.76, with a volume of 251863 shares trading hands. The stock had previously closed at $23.86.

Analyst Ratings Changes

Several research firms have recently issued reports on FOR. StockNews.com lowered Forestar Group from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Citigroup reduced their price target on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th.

Forestar Group Stock Down 4.6 %

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market capitalization of $1.15 billion, a PE ratio of 6.38 and a beta of 1.72. The company’s fifty day moving average is $26.50 and its 200-day moving average is $29.43.

Forestar Group (NYSE:FOR) last released its earnings results 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). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The business had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $318.00 million. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. As a group, analysts predict that Forestar Group Inc. will post 3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOR. Woodson Capital Management LP boosted its position in shares of Forestar Group by 12.0% during the third quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock valued at $18,127,000 after buying an additional 60,000 shares during the period. Swedbank AB purchased a new position in shares of Forestar Group in the 4th quarter worth approximately $1,296,000. Moody Aldrich Partners LLC increased its position in 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 valued at $7,003,000 after buying an additional 46,250 shares in the last quarter. Principal Financial Group Inc. raised its stake in Forestar Group by 13.7% in the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock valued at $11,668,000 after buying an additional 43,369 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Forestar Group in the third quarter worth about $1,013,000. Hedge funds and other 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.