Forestar Group (NYSE:FOR) Hits New 12-Month Low – Here’s Why

Forestar Group Inc. (NYSE:FOR) hit a new 52-week low during trading on Thursday . The company traded as low as $22.38 and last traded at $22.47, with a volume of 77137 shares trading hands. The stock had previously closed at $22.91.

Analyst Ratings Changes

FOR has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Citigroup cut their price objective on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research 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.

Forestar Group Stock Performance

The business has a 50-day moving average of $24.59 and a 200 day moving average of $28.55. 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 cap of $1.13 billion, a PE ratio of 6.26 and a beta of 1.72.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $318.00 million. Forestar Group’s revenue for the quarter was down 18.1% compared to the same quarter last year. Equities research analysts anticipate that Forestar Group Inc. will post 3.44 EPS for the current fiscal year.

Insider Transactions at Forestar Group

In related news, CEO Anthony W. Oxley purchased 4,300 shares of the business’s stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $23.14 per share, with a total value of $99,502.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in Forestar Group by 13.7% during 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 acquiring an additional 43,369 shares during the period. Empowered Funds LLC lifted its position in Forestar Group by 3.9% during the fourth quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock valued at $8,566,000 after purchasing an additional 12,473 shares during the last quarter. Barclays PLC increased its holdings in shares of 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 worth $1,865,000 after buying an additional 9,733 shares during the last quarter. Swedbank AB purchased a new stake in shares of Forestar Group during the 4th quarter valued at about $1,296,000. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of 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 last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

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.