Forestar Group (NYSE:FOR) Hits New 12-Month Low – What’s Next?

Forestar Group Inc. (NYSE:FOR) shares hit a new 52-week low on Thursday . The stock traded as low as $21.12 and last traded at $21.09, with a volume of 6698 shares. The stock had previously closed at $21.29.

Analysts Set New Price Targets

FOR has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. 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 research note on Thursday, January 23rd. Finally, StockNews.com upgraded shares of Forestar Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 26th.

Forestar Group Price Performance

The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.07 billion, a P/E ratio of 5.89 and a beta of 1.75. The company has a 50 day moving average price of $23.79 and a 200 day moving average price of $28.00.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Tuesday, January 21st. The oil and gas exploration company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.33). The company had revenue of $250.40 million during the quarter, compared to analyst estimates of $318.00 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. On average, equities analysts predict that Forestar Group Inc. will post 3.44 EPS for the current fiscal year.

Insider Transactions at Forestar Group

In other Forestar Group news, CEO Anthony W. Oxley bought 4,300 shares of Forestar Group 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 completion of the transaction, the chief executive officer now owns 4,300 shares in the company, valued at $99,502. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Forestar Group

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