Forestar Group (NYSE:FOR) Lowered to “Sell” Rating by StockNews.com

Forestar Group (NYSE:FOR) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

Separately, Citigroup dropped their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd.

Forestar Group Price Performance

Forestar Group stock opened at $23.97 on Monday. Forestar Group has a 52 week low of $23.38 and a 52 week high of $40.92. The business has a 50-day simple moving average of $26.95 and a 200 day simple moving average of $29.73. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 6.71 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 announced 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). The company had revenue of $250.40 million during the quarter, compared to the consensus estimate of $318.00 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. On average, research analysts forecast that Forestar Group will post 3.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC increased its stake in shares of Forestar Group by 3.9% in the fourth quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock worth $8,566,000 after purchasing an additional 12,473 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Forestar Group in the 4th quarter worth $112,000. Swedbank AB purchased a new position in Forestar Group during the 4th quarter valued at approximately $1,296,000. R Squared Ltd bought a new stake in Forestar Group in the fourth quarter worth $95,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Forestar Group during the 4th quarter valued at about $290,000. 35.50% of the stock is owned by hedge funds and other institutional investors.

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.