Forestar Group (NYSE:FOR) Hits New 52-Week Low on Analyst Downgrade

Forestar Group Inc. (NYSE:FOR)’s stock price hit a new 52-week low during trading on Tuesday after Citigroup lowered their price target on the stock from $43.00 to $39.00. Citigroup currently has a buy rating on the stock. Forestar Group traded as low as $25.20 and last traded at $25.20, with a volume of 517 shares traded. The stock had previously closed at $25.50.

Institutional Trading of Forestar Group

A number of institutional investors have recently bought and sold shares of FOR. Point72 DIFC Ltd purchased a new stake in shares of Forestar Group in the 3rd quarter worth about $32,000. nVerses Capital LLC raised its position 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 worth $39,000 after acquiring an additional 1,000 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Forestar Group in the second quarter valued at about $148,000. EverSource Wealth Advisors LLC grew its position in shares of Forestar Group by 474.8% in the second quarter. EverSource Wealth Advisors LLC now owns 5,311 shares of the oil and gas exploration company’s stock valued at $168,000 after purchasing an additional 4,387 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Forestar Group during the 3rd quarter worth approximately $172,000. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Forestar Group Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.61 and a current ratio of 1.61. The company has a 50-day moving average of $28.58 and a 200-day moving average of $30.37. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 6.48 and a beta of 1.74.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.29. The company had revenue of $551.40 million during the quarter, compared to analysts’ expectations of $503.76 million. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.44 earnings per share. As a group, equities research analysts expect that Forestar Group Inc. will post 3.67 earnings per share for the current fiscal year.

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.