Forestar Group (NYSE:FOR) Reaches New 1-Year Low – Here’s What Happened

Shares of Forestar Group Inc. (NYSE:FOR) reached a new 52-week low on Thursday . The company traded as low as $21.12 and last traded at $21.09, with a volume of 6698 shares. The stock had previously closed at $21.29.

Wall Street Analysts Forecast Growth

FOR has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price 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. Citigroup dropped their price objective 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, StockNews.com raised Forestar Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 26th.

Forestar Group Stock Up 2.6 %

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 6.06 and a beta of 1.75. The firm’s 50-day simple moving average is $23.70 and its two-hundred day simple moving average is $27.96.

Forestar Group (NYSE:FOR) last issued 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 firm had revenue of $250.40 million for 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 firm’s revenue was down 18.1% compared to the same quarter last year. Sell-side analysts predict that Forestar Group Inc. will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Anthony W. Oxley bought 4,300 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the acquisition, the chief executive officer now owns 4,300 shares in the company, valued at $99,502. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Forestar Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in shares of Forestar Group during the 3rd quarter worth about $32,000. Lazard Asset Management LLC purchased a new position in Forestar Group during the fourth quarter worth approximately $38,000. NewEdge Advisors LLC acquired a new position in shares of Forestar Group in the 4th quarter valued at $76,000. R Squared Ltd purchased a new stake in shares of Forestar Group during the 4th quarter valued at $95,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Forestar Group during the 4th quarter worth $112,000. 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.