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

StockNews.com lowered shares of Forestar Group (NYSE:FOR) from a buy rating to a hold rating in a report published on Saturday morning.

Forestar Group Stock Performance

Forestar Group stock opened at $36.94 on Friday. The firm has a market capitalization of $1.84 billion, a P/E ratio of 10.07 and a beta of 1.71. The stock has a fifty day moving average price of $35.61 and a 200 day moving average price of $32.09. Forestar Group has a 52 week low of $15.07 and a 52 week high of $40.92. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.50.

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.56 by $0.20. The firm had revenue of $305.90 million during the quarter, compared to analyst estimates of $273.00 million. Forestar Group had a return on equity of 13.85% and a net margin of 12.08%. During the same period in the prior year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that Forestar Group will post 3.93 earnings per share for the current year.

Hedge Funds Weigh In On Forestar Group

Institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its stake in Forestar Group by 1,601.6% in the third quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 977 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Forestar Group in the third quarter valued at $32,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Forestar Group during the fourth quarter valued at about $35,000. Envestnet Asset Management Inc. purchased a new stake in Forestar Group during the first quarter valued at about $35,000. Finally, Barclays PLC grew its position in Forestar Group by 533.7% during the fourth quarter. Barclays PLC now owns 4,892 shares of the oil and gas exploration company’s stock valued at $75,000 after acquiring an additional 4,120 shares during the period. 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.