Forestar Group (NYSE:FOR) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of Forestar Group (NYSE:FOR) from a hold rating to a sell rating in a research note released on Tuesday.

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

Forestar Group Price Performance

NYSE FOR opened at $23.04 on Tuesday. Forestar Group has a one year low of $22.42 and a one year high of $40.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a 50-day moving average of $24.92 and a 200 day moving average of $28.70. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 6.45 and a beta of 1.72.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, January 21st. The oil and gas exploration company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.33). The company 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%. The business’s revenue for the quarter was down 18.1% on a year-over-year basis. On average, sell-side analysts forecast that Forestar Group will post 3.44 EPS for the current year.

Insider Buying and Selling at Forestar Group

In other Forestar Group news, CEO Anthony W. Oxley purchased 4,300 shares of the firm’s 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 purchase, the chief executive officer now directly owns 4,300 shares in the company, valued at approximately $99,502. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Forestar Group

Hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new stake in Forestar Group during the 3rd quarter worth approximately $32,000. nVerses Capital LLC boosted its stake in Forestar Group by 500.0% in 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 acquiring an additional 1,000 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Forestar Group in the 4th quarter valued at about $38,000. NewEdge Advisors LLC purchased a new stake in Forestar Group in the 4th quarter valued at $76,000. Finally, R Squared Ltd acquired a new stake in shares of Forestar Group during the fourth quarter worth about $95,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

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.