Forestar Group (NYSE:FOR) Sets New 12-Month Low on Analyst Downgrade

Shares of Forestar Group Inc. (NYSE:FOR) reached a new 52-week low during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $37.00 to $30.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Forestar Group traded as low as $23.32 and last traded at $23.61, with a volume of 80826 shares. The stock had previously closed at $24.00.

FOR has been the topic of several other reports. StockNews.com lowered Forestar Group from a “hold” rating to a “sell” rating in a research note on Monday. Citigroup lowered their target price on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in 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 buying an additional 43,369 shares in the last quarter. Barclays PLC lifted its holdings in shares of Forestar Group by 20.3% in the 3rd quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company’s stock worth $1,865,000 after purchasing an additional 9,733 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Forestar Group by 73.5% during the 3rd 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 buying an additional 26,360 shares during the last quarter. State Street Corp lifted its stake in Forestar Group by 0.9% in the third quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company’s stock valued at $13,838,000 after buying an additional 3,922 shares during the last quarter. Finally, Woodson Capital Management LP grew its position in shares of Forestar Group by 12.0% during the third quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock worth $18,127,000 after acquiring an additional 60,000 shares during the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Performance

The company has a current ratio of 0.50, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average is $26.77 and its two-hundred day moving average is $29.66. The stock has a market capitalization of $1.25 billion, a P/E ratio of 6.91 and a beta of 1.74.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The business had revenue of $250.40 million for the quarter, compared to the consensus estimate of $318.00 million. The firm’s revenue was down 18.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Forestar Group Inc. will post 3.67 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.