StockNews.com Downgrades Forestar Group (NYSE:FOR) to Sell

Forestar Group (NYSE:FOR) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

Several other brokerages also recently weighed in on FOR. Citigroup lowered their price target on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their target price on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th.

Forestar Group Trading Down 2.0 %

Shares of NYSE FOR opened at $23.16 on Tuesday. The firm’s 50 day moving average price is $25.02 and its 200-day moving average price is $28.74. Forestar Group has a 52-week low of $22.42 and a 52-week high of $40.92. 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 $1.17 billion, a PE ratio of 6.49 and a beta of 1.72.

Forestar Group (NYSE:FOR) last issued its earnings results 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). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The company had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $318.00 million. The business’s quarterly revenue was down 18.1% compared to the same quarter last year. On average, equities research analysts expect that Forestar Group will post 3.44 EPS for the current fiscal year.

Insider Activity

In related news, CEO Anthony W. Oxley acquired 4,300 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $23.14 per share, with a total value of $99,502.00. Following the completion of the transaction, the chief executive officer now directly owns 4,300 shares in the company, valued at $99,502. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOR. Dimensional Fund Advisors LP raised its stake in Forestar Group by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company’s stock worth $70,541,000 after acquiring an additional 119,357 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Forestar Group by 11.3% in the fourth quarter. American Century Companies Inc. now owns 584,222 shares of the oil and gas exploration company’s stock worth $15,143,000 after purchasing an additional 59,427 shares during the last quarter. Woodson Capital Management LP lifted its holdings in shares of Forestar Group by 12.0% during the third quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock worth $18,127,000 after purchasing an additional 60,000 shares during the period. Bridgeway Capital Management LLC boosted its position in Forestar Group by 2.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 481,253 shares of the oil and gas exploration company’s stock valued at $12,474,000 after buying an additional 12,473 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in Forestar Group by 26.4% in the 4th quarter. First Eagle Investment Management LLC now owns 479,669 shares of the oil and gas exploration company’s stock worth $12,433,000 after buying an additional 100,100 shares during the period. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

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.