Forestar Group (NYSE:FOR) Hits New 52-Week Low – Here’s What Happened

Forestar Group Inc. (NYSE:FOR) reached a new 52-week low on Friday . The company traded as low as $27.43 and last traded at $27.57, with a volume of 37049 shares. The stock had previously closed at $28.36.

Forestar Group Price Performance

The company’s 50-day simple moving average is $30.66 and its 200-day simple moving average is $31.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 7.07 and a beta of 1.72.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.29. The firm had revenue of $551.40 million for the quarter, compared to the consensus estimate of $503.76 million. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. On average, equities research analysts anticipate that Forestar Group Inc. will post 3.67 EPS for the current year.

Insider Activity

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.58, for a total value of $65,160.00. Following the completion of the sale, the director now directly owns 5,951 shares of the company’s stock, valued at $193,883.58. The trade was a 25.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Forestar Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new position in shares of Forestar Group during the third quarter valued at $32,000. Family Firm Inc. acquired a new position in Forestar Group during the 2nd quarter valued at about $34,000. CWM LLC grew its position in Forestar Group by 111.6% in the 2nd quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 559 shares during the last quarter. nVerses Capital LLC increased its stake in shares of Forestar Group by 500.0% in the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 1,000 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of Forestar Group during the second quarter valued at approximately $112,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

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.