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

Forestar Group (NYSE:FOR) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other equities analysts also recently issued reports about the company. Citigroup decreased their target price on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th.

Forestar Group Stock Performance

FOR stock opened at $23.85 on Wednesday. The firm has a market cap of $1.21 billion, a P/E ratio of 6.68 and a beta of 1.72. The stock’s 50 day simple moving average is $24.66 and its 200 day simple moving average is $28.59. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. Forestar Group has a 12-month low of $22.42 and a 12-month high of $40.92.

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

Insider Buying and Selling

In other Forestar Group news, CEO Anthony W. Oxley acquired 4,300 shares of Forestar Group stock in a transaction dated Friday, February 14th. The stock was acquired 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 in the company, valued at approximately $99,502. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Forestar Group

Several hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of Forestar Group by 13.7% during the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock valued at $11,668,000 after purchasing an additional 43,369 shares during the period. Empowered Funds LLC grew its position in Forestar Group by 3.9% in the 4th quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock valued at $8,566,000 after buying an additional 12,473 shares in the last quarter. Barclays PLC grew its position in Forestar Group by 20.3% in the 3rd quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company’s stock valued at $1,865,000 after buying an additional 9,733 shares in the last quarter. Swedbank AB acquired a new position in Forestar Group during the 4th quarter valued at about $1,296,000. Finally, Los Angeles Capital Management LLC raised its position in shares of Forestar Group by 73.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 62,237 shares of the oil and gas exploration company’s stock worth $2,015,000 after buying an additional 26,360 shares in the last quarter. Institutional investors 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.