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

StockNews.com cut shares of Forestar Group (NYSE:FOR) from a buy rating to a hold rating in a report issued on Friday.

Forestar Group Stock Up 0.0 %

Shares of NYSE:FOR opened at $31.32 on Friday. Forestar Group has a 1-year low of $17.89 and a 1-year high of $40.92. The stock has a market cap of $1.58 billion, a P/E ratio of 7.79 and a beta of 1.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 2.01. The firm has a fifty day moving average price of $35.65 and a 200 day moving average price of $32.33.

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, topping the consensus estimate of $0.56 by $0.20. Forestar Group had a net margin of 12.99% and a return on equity of 14.59%. The company had revenue of $305.90 million during the quarter, compared to analysts’ expectations of $273.00 million. During the same quarter last year, the business earned $0.42 EPS. Sell-side analysts predict that Forestar Group will post 3.87 EPS for the current year.

Institutional Trading of Forestar Group

Several hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. lifted its stake in shares of Forestar Group by 1,601.6% in the 3rd quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock worth $28,000 after acquiring an additional 977 shares during the period. Swiss National Bank lifted its stake in shares of Forestar Group by 2.3% in the 3rd quarter. Swiss National Bank now owns 43,917 shares of the oil and gas exploration company’s stock worth $1,183,000 after acquiring an additional 1,000 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Forestar Group in the 4th quarter worth $35,000. SG Americas Securities LLC increased its holdings in shares of Forestar Group by 25.0% in the 4th quarter. SG Americas Securities LLC now owns 10,356 shares of the oil and gas exploration company’s stock valued at $342,000 after purchasing an additional 2,074 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Forestar Group by 88.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company’s stock valued at $147,000 after purchasing an additional 2,077 shares in the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

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.