Forestar Group (NYSE:FOR) Stock Price Down 4.2% Following Analyst Downgrade

Forestar Group Inc. (NYSE:FOR) was down 4.2% on Tuesday after Citigroup lowered their price target on the stock from $46.00 to $43.00. Citigroup currently has a buy rating on the stock. Forestar Group traded as low as $29.92 and last traded at $30.11. Approximately 78,425 shares changed hands during trading, a decline of 62% from the average daily volume of 208,513 shares. The stock had previously closed at $31.42.

Separately, StockNews.com downgraded Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, April 26th.

Insider Buying and Selling at Forestar Group

In other Forestar Group news, CEO Anthony W. Oxley purchased 3,210 shares of Forestar Group stock in a transaction dated Wednesday, April 24th. The shares were purchased at an average cost of $31.15 per share, for a total transaction of $99,991.50. Following the completion of the acquisition, the chief executive officer now owns 3,210 shares in the company, valued at approximately $99,991.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $31.38, for a total value of $62,760.00. Following the completion of the sale, the director now directly owns 7,951 shares of the company’s stock, valued at approximately $249,502.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Anthony W. Oxley bought 3,210 shares of Forestar Group stock in a transaction dated Wednesday, April 24th. The shares were bought at an average cost of $31.15 per share, for a total transaction of $99,991.50. Following the completion of the transaction, the chief executive officer now owns 3,210 shares of the company’s stock, valued at approximately $99,991.50. The disclosure for this purchase can be found here. Company insiders own 0.49% of the company’s stock.

Institutional Trading of Forestar Group

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Forestar Group by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 2,805,957 shares of the oil and gas exploration company’s stock worth $112,771,000 after purchasing an additional 28,379 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Forestar Group by 11.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,026,590 shares of the oil and gas exploration company’s stock worth $67,021,000 after buying an additional 200,686 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Forestar Group by 11.0% during the first quarter. Bridgeway Capital Management LLC now owns 439,892 shares of the oil and gas exploration company’s stock valued at $17,679,000 after buying an additional 43,457 shares during the period. Woodson Capital Management LP bought a new stake in shares of Forestar Group in the first quarter valued at about $13,367,000. Finally, Empowered Funds LLC raised its holdings in shares of Forestar Group by 55.5% in the first quarter. Empowered Funds LLC now owns 290,197 shares of the oil and gas exploration company’s stock valued at $11,663,000 after acquiring an additional 103,562 shares in the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Trading Up 1.3 %

The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average is $32.71 and its two-hundred day moving average is $33.83. The company has a market capitalization of $1.53 billion, a PE ratio of 7.54 and a beta of 1.77.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Thursday, April 18th. The oil and gas exploration company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. Forestar Group had a net margin of 12.99% and a return on equity of 14.59%. The business had revenue of $333.80 million during the quarter, compared to analyst estimates of $345.60 million. As a group, sell-side analysts predict that Forestar Group Inc. will post 3.87 EPS for the current fiscal year.

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.