Forestar Group (NYSE:FOR) Sets New 1-Year Low – Time to Sell?

Forestar Group Inc. (NYSE:FOR) reached a new 52-week low on Wednesday . The stock traded as low as $21.13 and last traded at $21.30, with a volume of 310149 shares traded. The stock had previously closed at $21.55.

Analyst Ratings Changes

Several equities research analysts have weighed in on FOR shares. StockNews.com upgraded Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price objective on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Finally, Citigroup lowered their target price 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 Up 1.9 %

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 cap of $1.12 billion, a P/E ratio of 6.20 and a beta of 1.72. The stock has a 50-day moving average of $24.19 and a two-hundred day moving average of $28.29.

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

Insider Activity at Forestar Group

In related news, CEO Anthony W. Oxley acquired 4,300 shares of Forestar Group stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price 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 in the company, valued at approximately $99,502. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of Forestar Group

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd bought a new stake in shares of Forestar Group in the 3rd quarter worth $32,000. Lazard Asset Management LLC bought a new stake in shares of Forestar Group in the 4th quarter worth $38,000. NewEdge Advisors LLC bought a new stake in shares of Forestar Group in the 4th quarter worth $76,000. R Squared Ltd bought a new stake in shares of Forestar Group in the 4th quarter worth $95,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Forestar Group in the 4th quarter worth $112,000. 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.