Forestar Group (NYSE:FOR) Hits New 52-Week Low – Should You Sell?

Forestar Group Inc. (NYSE:FOR) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $22.53 and last traded at $22.82, with a volume of 11341 shares traded. The stock had previously closed at $23.04.

Analyst Ratings Changes

A number of research firms recently weighed in on FOR. Citigroup dropped their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their target price on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Finally, StockNews.com raised Forestar Group from a “sell” rating to a “hold” rating in a report on Monday.

Forestar Group Stock Down 1.0 %

The firm’s 50-day moving average is $25.68 and its two-hundred day moving average is $29.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a market cap of $1.16 billion, a P/E ratio of 6.39 and a beta of 1.72.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) 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 firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $318.00 million. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. On average, equities research analysts anticipate that Forestar Group Inc. will post 3.44 earnings per share for the current year.

Hedge Funds Weigh In On Forestar Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new stake in Forestar Group in the third quarter valued at approximately $32,000. nVerses Capital LLC increased its position in shares of Forestar Group by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock valued at $39,000 after buying an additional 1,000 shares in the last quarter. R Squared Ltd acquired a new stake in Forestar Group during the 4th quarter worth $95,000. Heck Capital Advisors LLC acquired a new position in Forestar Group in the fourth quarter valued at about $112,000. Finally, SG Americas Securities LLC increased its holdings in shares of Forestar Group by 43.3% in the fourth quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company’s stock worth $148,000 after acquiring an additional 1,731 shares in the last quarter. 35.50% of the stock is owned by institutional investors.

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.