Forestar Group (NYSE:FOR) Trading Down 4.2% After Analyst Downgrade

Forestar Group Inc. (NYSE:FOR) dropped 4.2% during trading on Tuesday after Citigroup lowered their price target on the stock from $46.00 to $43.00. Citigroup currently has a buy rating on the stock. Forestar Group traded as low as $29.92 and last traded at $30.11. Approximately 78,425 shares were traded during trading, a decline of 62% from the average daily volume of 208,513 shares. The stock had previously closed at $31.42.

Separately, StockNews.com downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a research note on Friday, April 26th.

Insider Activity

In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s 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 completion of the sale, the director now owns 7,951 shares in the company, valued at approximately $249,502.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s 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 completion of the sale, the director now owns 7,951 shares in the company, valued at approximately $249,502.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony W. Oxley bought 3,210 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were purchased at an average price of $31.15 per share, with a total value of $99,991.50. Following the acquisition, the chief executive officer now directly owns 3,210 shares in the company, valued at approximately $99,991.50. The disclosure for this purchase can be found here. Corporate insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Forestar Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Forestar Group by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 2,805,957 shares of the oil and gas exploration company’s stock worth $112,771,000 after acquiring an additional 28,379 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Forestar Group by 11.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,026,590 shares of the oil and gas exploration company’s stock worth $67,021,000 after acquiring an additional 200,686 shares during the period. Bridgeway Capital Management LLC boosted its holdings in Forestar Group by 11.0% in the 1st quarter. Bridgeway Capital Management LLC now owns 439,892 shares of the oil and gas exploration company’s stock worth $17,679,000 after acquiring an additional 43,457 shares during the period. Woodson Capital Management LP purchased a new position in Forestar Group in the 1st quarter worth approximately $13,367,000. Finally, Empowered Funds LLC boosted its holdings in Forestar Group by 55.5% in the 1st quarter. Empowered Funds LLC now owns 290,197 shares of the oil and gas exploration company’s stock worth $11,663,000 after acquiring an additional 103,562 shares during the period. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Performance

The stock has a market cap of $1.53 billion, a PE ratio of 7.54 and a beta of 1.77. The stock has a fifty day simple moving average of $32.71 and a two-hundred day simple moving average of $33.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.85 and a current ratio of 1.85.

Forestar Group (NYSE:FOR) last released its quarterly 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. The firm had revenue of $333.80 million during the quarter, compared to analysts’ expectations of $345.60 million. Forestar Group had a return on equity of 14.59% and a net margin of 12.99%. Equities analysts anticipate that Forestar Group Inc. will post 3.87 EPS 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.