G.F. (Rick) Ringler III Sells 2,000 Shares of Forestar Group Inc. (NYSE:FOR) Stock

Forestar Group Inc. (NYSE:FOR) Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.58, for a total transaction of $65,160.00. Following the completion of the transaction, the director now owns 5,951 shares of the company’s stock, valued at $193,883.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Forestar Group Stock Down 0.6 %

NYSE FOR traded down $0.19 on Monday, hitting $32.37. 230,137 shares of the company were exchanged, compared to its average volume of 203,681. The company has a market cap of $1.64 billion, a PE ratio of 8.07 and a beta of 1.76. Forestar Group Inc. has a 12 month low of $22.71 and a 12 month high of $40.92. The stock has a fifty day moving average of $30.81 and a 200-day moving average of $32.87. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Thursday, July 18th. The oil and gas exploration company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.13). Forestar Group had a net margin of 12.89% and a return on equity of 13.48%. The business had revenue of $318.40 million during the quarter, compared to the consensus estimate of $370.50 million. As a group, analysts forecast that Forestar Group Inc. will post 3.72 earnings per share for the current year.

Institutional Trading of Forestar Group

Several institutional investors and hedge funds have recently made changes to their positions in FOR. Transcendent Capital Group LLC purchased a new stake in shares of Forestar Group in the first quarter valued at about $32,000. CWM LLC increased its holdings in Forestar Group by 111.6% during the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 559 shares during the last quarter. Family Firm Inc. purchased a new stake in Forestar Group during the second quarter worth about $34,000. EverSource Wealth Advisors LLC increased its holdings in Forestar Group by 115.4% during the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 495 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in Forestar Group during the second quarter worth about $112,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Wall Street Analysts Forecast Growth

FOR has been the subject of several recent research reports. Citigroup decreased their price target on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Finally, BTIG Research reduced their price objective on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, July 19th.

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.