Forestar Group (NYSE:FOR) Sets New 1-Year Low – Time to Sell?

Forestar Group Inc. (NYSE:FOR) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $21.13 and last traded at $21.30, with a volume of 310149 shares. The stock had previously closed at $21.55.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. cut 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 cut their price objective on 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 raised Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th.

Forestar Group Stock Up 1.9 %

The company has a market capitalization of $1.12 billion, a PE ratio of 6.20 and a beta of 1.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. The company has a 50-day moving average of $24.19 and a two-hundred day moving average of $28.29.

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.33). The company had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $318.00 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The company’s revenue was down 18.1% compared to the same quarter last year. Sell-side analysts anticipate that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity at Forestar Group

In related news, CEO Anthony W. Oxley bought 4,300 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average cost of $23.14 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Forestar Group

Several institutional investors and hedge funds have recently bought and sold shares of FOR. Dimensional Fund Advisors LP lifted its position in shares of Forestar Group by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company’s stock valued at $70,541,000 after acquiring an additional 119,357 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Forestar Group by 406.1% in the fourth 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 acquiring an additional 100,629 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Forestar Group by 26.4% in the fourth 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 acquiring an additional 100,100 shares in the last quarter. Crestline Management LP purchased a new position in shares of Forestar Group in the fourth quarter valued at about $2,333,000. Finally, First Trust Advisors LP lifted its position in shares of 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 valued at $3,343,000 after acquiring an additional 85,669 shares in the last quarter. 35.50% of the stock is currently owned by hedge funds and other 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.