Forestar Group (NYSE:FOR) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Forestar Group Inc (NYSE:FOR)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.36 and traded as high as $27.53. Forestar Group shares last traded at $27.47, with a volume of 171,352 shares traded.

Wall Street Analysts Forecast Growth

FOR has been the subject of several recent analyst reports. Weiss Ratings cut shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Zacks Research downgraded shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, BTIG Research began coverage on shares of Forestar Group in a research note on Monday, March 30th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Forestar Group has an average rating of “Hold” and a consensus price target of $32.67.

Forestar Group Trading Down 1.2%

The company has a market cap of $1.44 billion, a P/E ratio of 8.58 and a beta of 1.41. The stock’s 50-day moving average is $26.49 and its two-hundred day moving average is $26.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.36 and a quick ratio of 1.36.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.09). The company had revenue of $374.30 million for the quarter, compared to the consensus estimate of $372.57 million. Forestar Group had a net margin of 9.80% and a return on equity of 9.49%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. As a group, equities research analysts predict that Forestar Group Inc will post 3.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Forestar Group by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 2,813,034 shares of the oil and gas exploration company’s stock valued at $69,285,000 after purchasing an additional 43,440 shares during the period. Dimensional Fund Advisors LP lifted its position in Forestar Group by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,805,806 shares of the oil and gas exploration company’s stock valued at $68,573,000 after purchasing an additional 30,347 shares during the period. American Century Companies Inc. lifted its position in Forestar Group by 5.5% during the third quarter. American Century Companies Inc. now owns 702,223 shares of the oil and gas exploration company’s stock valued at $18,672,000 after purchasing an additional 36,626 shares during the period. First Eagle Investment Management LLC lifted its position in Forestar Group by 3.3% during the third quarter. First Eagle Investment Management LLC now owns 537,269 shares of the oil and gas exploration company’s stock valued at $14,286,000 after purchasing an additional 17,000 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Forestar Group by 232.9% during the second quarter. Ameriprise Financial Inc. now owns 529,863 shares of the oil and gas exploration company’s stock valued at $10,597,000 after purchasing an additional 370,685 shares during the period. Institutional investors own 35.50% of the company’s stock.

About Forestar Group

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.