Forestar Group (NYSE:FOR) Reaches New 12-Month Low – Here’s Why

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Citigroup reduced their price objective on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, StockNews.com upgraded shares of Forestar Group from a “sell” rating to a “hold” rating in a report on Monday.

Forestar Group Trading Down 1.5 %

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 firm has a market capitalization of $1.14 billion, a P/E ratio of 6.29 and a beta of 1.72. The firm has a 50 day simple moving average of $25.55 and a two-hundred day simple moving average of $29.03.

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 firm had revenue of $250.40 million for the quarter, compared to the consensus estimate of $318.00 million. Forestar Group’s quarterly revenue was down 18.1% compared to the same quarter last year. Equities research analysts forecast that Forestar Group Inc. will post 3.44 earnings per share for the current year.

Institutional Trading of Forestar Group

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd bought a new position in Forestar Group in the 3rd quarter valued at $32,000. nVerses Capital LLC raised its stake in shares of Forestar Group by 500.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after purchasing an additional 1,000 shares during the period. NewEdge Advisors LLC purchased a new position in shares of Forestar Group in the 4th quarter worth about $76,000. R Squared Ltd bought a new position in Forestar Group during the fourth quarter valued at about $95,000. Finally, Heck Capital Advisors LLC purchased a new stake in Forestar Group during the fourth quarter worth about $112,000. 35.50% of the stock is owned by hedge funds and other 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.