Forestar Group (NYSE:FOR) Hits New 52-Week Low – Here’s What Happened

Forestar Group Inc. (NYSE:FOR)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $21.13 and last traded at $21.30, with a volume of 310149 shares changing hands. The stock had previously closed at $21.55.

Analyst Ratings Changes

A number of research analysts have issued reports on FOR shares. Citigroup reduced their target price on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. StockNews.com raised shares of Forestar Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th.

Forestar Group Price Performance

The company’s 50-day simple moving average is $24.37 and its 200 day simple moving average is $28.40. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.08 billion, a P/E ratio of 5.96 and a beta of 1.72.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.33). Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The company had revenue of $250.40 million during the quarter, compared to analyst estimates of $318.00 million. The business’s revenue was down 18.1% on a year-over-year basis. As a group, sell-side analysts expect that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at Forestar Group

In related news, CEO Anthony W. Oxley acquired 4,300 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $23.14 per share, for a total transaction of $99,502.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,300 shares in the company, valued at approximately $99,502. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Forestar Group

Several institutional investors and hedge funds have recently bought and sold shares of FOR. Point72 DIFC Ltd bought a new position in shares of Forestar Group in the 3rd quarter worth $32,000. Lazard Asset Management LLC bought a new stake in Forestar Group in the 4th quarter worth approximately $38,000. NewEdge Advisors LLC bought a new stake in Forestar Group in the 4th quarter worth approximately $76,000. R Squared Ltd bought a new stake in Forestar Group in the 4th quarter worth approximately $95,000. Finally, Heck Capital Advisors LLC bought a new stake in Forestar Group in the fourth quarter valued at approximately $112,000. Institutional investors 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.