Forestar Group (NYSE:FOR) Lowered to Hold at StockNews.com

Forestar Group (NYSE:FOR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Forestar Group Stock Performance

FOR opened at $31.30 on Friday. The business has a fifty day simple moving average of $35.68 and a 200 day simple moving average of $32.34. The company has a market capitalization of $1.56 billion, a PE ratio of 7.79 and a beta of 1.71. Forestar Group has a 1 year low of $17.70 and a 1 year high of $40.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 2.01.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.20. The business had revenue of $305.90 million during the quarter, compared to the consensus estimate of $273.00 million. Forestar Group had a return on equity of 14.59% and a net margin of 12.99%. During the same period in the previous year, the company posted $0.42 EPS. Research analysts expect that Forestar Group will post 3.93 EPS for the current year.

Institutional Trading of Forestar Group

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. lifted its position in shares of Forestar Group by 1,601.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock valued at $28,000 after acquiring an additional 977 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Forestar Group during the 4th quarter valued at $35,000. Allspring Global Investments Holdings LLC lifted its position in shares of Forestar Group by 88.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company’s stock valued at $147,000 after acquiring an additional 2,077 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Forestar Group by 112.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,638 shares of the oil and gas exploration company’s stock valued at $125,000 after acquiring an additional 2,459 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Forestar Group during the 4th quarter worth $168,000. 35.50% of the stock is currently 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.