Forestar Group (NYSE:FOR) Reaches New 12-Month Low – Here’s What Happened

Forestar Group Inc. (NYSE:FOR) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $20.56 and last traded at $20.67, with a volume of 330 shares changing hands. The stock had previously closed at $21.41.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com raised Forestar Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price target on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, Citigroup lowered their price objective 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.

Forestar Group Price Performance

The company has a fifty day moving average price of $22.42 and a two-hundred day moving average price of $26.96. 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 $1.07 billion, a P/E ratio of 5.93 and a beta of 1.75.

Forestar Group (NYSE:FOR) last announced 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). The company had revenue of $250.40 million for the quarter, compared to the consensus estimate of $318.00 million. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The company’s quarterly revenue was down 18.1% on a year-over-year basis. On average, sell-side analysts anticipate that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Anthony W. Oxley acquired 4,300 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $23.14 per share, with a total value of $99,502.00. Following the transaction, the chief executive officer now directly owns 4,300 shares in the company, valued at approximately $99,502. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Forestar Group

Several hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in Forestar Group during the third quarter worth approximately $32,000. Lazard Asset Management LLC acquired a new position in shares of Forestar Group during the 4th quarter worth approximately $38,000. NewEdge Advisors LLC acquired a new position in shares of Forestar Group during the 4th quarter worth approximately $76,000. R Squared Ltd acquired a new stake in Forestar Group during the 4th quarter valued at $95,000. Finally, Heck Capital Advisors LLC bought a new position in Forestar Group during the fourth quarter worth $112,000. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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.