G.F. (Rick) Ringler III Sells 2,000 Shares of Forestar Group Inc. (NYSE:FOR) Stock

Forestar Group Inc. (NYSE:FOR) Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $31.38, for a total transaction of $62,760.00. Following the transaction, the director now directly owns 7,951 shares in the company, valued at approximately $249,502.38. The transaction was disclosed in a filing with the SEC, which is available through this link.

Forestar Group Trading Up 1.4 %

FOR opened at $31.99 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.85. Forestar Group Inc. has a fifty-two week low of $21.88 and a fifty-two week high of $40.92. The firm has a market capitalization of $1.62 billion, a PE ratio of 7.96 and a beta of 1.78. The company’s 50-day moving average is $32.75 and its 200 day moving average is $33.89.

Forestar Group (NYSE:FOR) last posted its earnings results on Thursday, April 18th. The oil and gas exploration company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. Forestar Group had a net margin of 12.99% and a return on equity of 14.59%. The company had revenue of $333.80 million for the quarter, compared to analyst estimates of $345.60 million. As a group, research analysts predict that Forestar Group Inc. will post 3.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forestar Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in Forestar Group in the 1st quarter valued at about $32,000. EverSource Wealth Advisors LLC increased its stake in Forestar Group by 115.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 495 shares during the last quarter. Federated Hermes Inc. increased its stake in 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 valued at $28,000 after buying an additional 977 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in Forestar Group in the 4th quarter valued at about $35,000. Finally, Allspring Global Investments Holdings LLC increased its stake in 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 buying an additional 2,077 shares during the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FOR shares. StockNews.com cut shares of Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Citigroup upped their target price on shares of Forestar Group from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, May 17th.

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.