Forestar Group (NYSE:FOR) Reaches New 52-Week Low – What’s Next?

Shares of Forestar Group Inc. (NYSE:FOR) hit a new 52-week low on Thursday . The company traded as low as $21.12 and last traded at $21.09, with a volume of 6698 shares changing hands. The stock had previously closed at $21.29.

Analysts Set New Price Targets

FOR has been the subject of several research reports. Citigroup dropped their price objective on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. StockNews.com upgraded Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their price objective on Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th.

Forestar Group Trading Up 2.6 %

The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 6.06 and a beta of 1.75. The business’s 50-day moving average price is $23.70 and its 200 day moving average price is $27.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Tuesday, January 21st. The oil and gas exploration company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). The firm had revenue of $250.40 million during the quarter, compared to analyst estimates of $318.00 million. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The company’s quarterly revenue was down 18.1% on a year-over-year basis. On average, equities analysts forecast that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Anthony W. Oxley purchased 4,300 shares of Forestar Group stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of $23.14 per share, with a total value of $99,502.00. Following the completion of the transaction, the chief executive officer now owns 4,300 shares of the company’s stock, valued at approximately $99,502. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Forestar Group

A number of institutional investors have recently made changes to their positions in FOR. Dimensional Fund Advisors LP raised its holdings in shares of Forestar Group by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company’s stock worth $70,541,000 after purchasing an additional 119,357 shares during the period. Janus Henderson Group PLC boosted its position in Forestar Group by 406.1% during the 4th quarter. Janus Henderson Group PLC now owns 125,408 shares of the oil and gas exploration company’s stock valued at $3,247,000 after purchasing an additional 100,629 shares during the period. First Eagle Investment Management LLC boosted its position in Forestar Group by 26.4% during the 4th quarter. First Eagle Investment Management LLC now owns 479,669 shares of the oil and gas exploration company’s stock valued at $12,433,000 after purchasing an additional 100,100 shares during the period. Crestline Management LP bought a new position in Forestar Group during the 4th quarter worth $2,333,000. Finally, First Trust Advisors LP increased its position in Forestar Group by 197.8% in the fourth quarter. First Trust Advisors LP now owns 128,989 shares of the oil and gas exploration company’s stock worth $3,343,000 after buying an additional 85,669 shares during the period. 35.50% of the stock is currently owned by 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.