Forestar Group (NYSE:FOR) Sees Unusually-High Trading Volume

Forestar Group Inc. (NYSE:FOR) saw unusually-high trading volume on Thursday . Approximately 101,232 shares changed hands during mid-day trading, a decline of 53% from the previous session’s volume of 215,066 shares.The stock last traded at $32.45 and had previously closed at $34.16.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Forestar Group from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th.

Forestar Group Trading Down 8.4 %

The stock’s 50-day moving average is $35.77 and its two-hundred day moving average is $32.16. The company has a market cap of $1.56 billion, a P/E ratio of 8.63 and a beta of 1.71. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 2.01.

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

Institutional Investors Weigh In On Forestar Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. raised its stake in Forestar Group by 1,601.6% during the 3rd 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 period. Lazard Asset Management LLC purchased a new stake in shares of Forestar Group during the 3rd quarter valued at about $32,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Forestar Group in the 4th quarter valued at about $35,000. Envestnet Asset Management Inc. purchased a new position in Forestar Group in the first quarter worth about $35,000. Finally, Barclays PLC increased its stake 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 worth $75,000 after acquiring an additional 4,120 shares during the last quarter. 35.50% of the stock is owned by 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.