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

Shares of Forestar Group Inc. (NYSE:FOR) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $25.27 and last traded at $25.58, with a volume of 9815 shares. The stock had previously closed at $25.70.

Forestar Group Stock Performance

The company has a market cap of $1.29 billion, a P/E ratio of 6.35 and a beta of 1.72. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $29.40 and a 200-day moving average price of $30.67.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.29. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The business had revenue of $551.40 million during the quarter, compared to analysts’ expectations of $503.76 million. During the same period last year, the firm posted $1.44 earnings per share. The business’s revenue was up .3% on a year-over-year basis. Equities analysts expect that Forestar Group Inc. will post 3.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Forestar Group by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock worth $78,012,000 after buying an additional 201,032 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Forestar Group by 46.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 65,990 shares of the oil and gas exploration company’s stock worth $2,111,000 after acquiring an additional 20,795 shares during the last quarter. Hussman Strategic Advisors Inc. raised its position in shares of Forestar Group by 75.0% during the second quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the oil and gas exploration company’s stock worth $2,015,000 after purchasing an additional 27,000 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Forestar Group by 73.5% during the third quarter. Los Angeles Capital Management LLC now owns 62,237 shares of the oil and gas exploration company’s stock worth $2,015,000 after purchasing an additional 26,360 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Forestar Group by 13.7% during the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock valued at $11,668,000 after purchasing an additional 43,369 shares during the last quarter. 35.50% of the stock is 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.