StockNews.com Downgrades Forestar Group (NYSE:FOR) to Sell

Forestar Group (NYSE:FOR) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

FOR has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price objective on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Citigroup lowered their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd.

Forestar Group Stock Up 3.2 %

FOR stock opened at $23.21 on Tuesday. The stock has a market capitalization of $1.18 billion, a P/E ratio of 6.50 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. Forestar Group has a 1-year low of $22.42 and a 1-year high of $40.92. The business has a fifty day moving average price of $25.22 and a 200-day moving average price of $28.83.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in shares of Forestar Group during the 3rd quarter valued at approximately $32,000. Lazard Asset Management LLC bought a new stake in Forestar Group during the 4th quarter worth approximately $38,000. nVerses Capital LLC lifted its holdings in Forestar Group by 500.0% during 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 in the last quarter. NewEdge Advisors LLC bought a new position in shares of Forestar Group in the fourth quarter worth approximately $76,000. Finally, R Squared Ltd purchased a new stake in shares of Forestar Group in the fourth quarter worth $95,000. 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.