Forestar Group (NYSE:FOR) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Forestar Group (NYSE:FOR) from a sell rating to a hold rating in a research note released on Wednesday.

Other analysts also recently issued reports about the company. Citigroup decreased their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their target price 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 3.7 %

Shares of NYSE FOR opened at $22.87 on Wednesday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 6.41 and a beta of 1.72. 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 business has a 50-day moving average of $24.59 and a two-hundred day moving average of $28.55. Forestar Group has a 1 year low of $22.42 and a 1 year high of $40.92.

Forestar Group (NYSE:FOR) last announced its quarterly earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). The business had revenue of $250.40 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 18.1% on a year-over-year basis. On average, analysts forecast that Forestar Group will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at Forestar Group

In other news, CEO Anthony W. Oxley bought 4,300 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the completion of the transaction, the chief executive officer now owns 4,300 shares of the company’s stock, valued at approximately $99,502. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.40% of the company’s stock.

Institutional Trading of Forestar Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in Forestar Group by 13.7% in the 3rd 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 acquiring an additional 43,369 shares during the period. Empowered Funds LLC increased its position in Forestar Group by 3.9% in the 4th quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock valued at $8,566,000 after acquiring an additional 12,473 shares during the period. Barclays PLC increased its position in Forestar Group by 20.3% in the 3rd quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company’s stock valued at $1,865,000 after acquiring an additional 9,733 shares during the period. Swedbank AB acquired a new position in Forestar Group in the 4th quarter valued at about $1,296,000. Finally, Los Angeles Capital Management LLC increased its position in Forestar Group by 73.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 62,237 shares of the oil and gas exploration company’s stock valued at $2,015,000 after acquiring an additional 26,360 shares during the period. Institutional investors and hedge funds 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.