Forestar Group (NYSE:FOR) Sets New 1-Year Low on Analyst Downgrade

Forestar Group Inc. (NYSE:FOR) reached a new 52-week low during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $37.00 to $30.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Forestar Group traded as low as $23.32 and last traded at $23.61, with a volume of 80826 shares changing hands. The stock had previously closed at $24.00.

Other analysts also recently issued reports about the company. Citigroup reduced their target price on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. StockNews.com cut shares of Forestar Group from a “hold” rating to a “sell” rating in a research note on Monday.

Institutional Trading of Forestar Group

A number of institutional investors have recently modified their holdings of FOR. Point72 DIFC Ltd acquired a new stake in Forestar Group in the third quarter valued at $32,000. nVerses Capital LLC raised its holdings in Forestar Group by 500.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after purchasing an additional 1,000 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Forestar Group in the 4th quarter worth about $95,000. Heck Capital Advisors LLC purchased a new position in Forestar Group during the 4th quarter valued at about $112,000. Finally, SG Americas Securities LLC raised its position in Forestar Group by 43.3% during the fourth quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company’s stock worth $148,000 after acquiring an additional 1,731 shares during the last quarter. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Forestar Group Stock Up 3.0 %

The firm’s fifty day simple moving average is $26.77 and its 200-day simple moving average is $29.66. The company has a market cap of $1.25 billion, a PE ratio of 6.91 and a beta of 1.74. The company has a quick ratio of 1.61, a current ratio of 0.50 and a debt-to-equity ratio of 0.50.

Forestar Group (NYSE:FOR) last released its earnings results 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). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The firm had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $318.00 million. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. As a group, equities research analysts expect that Forestar Group Inc. will post 3.67 earnings per share for the current fiscal year.

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.