Forestar Group (NYSE:FOR) Shares Pass Above Two Hundred Day Moving Average of $15.71

Forestar Group Inc. (NYSE:FOR – Get Rating) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.71 and traded as high as $19.87. Forestar Group shares last traded at $19.71, with a volume of 97,640 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently commented on FOR. StockNews.com started coverage on Forestar Group in a research note on Thursday, May 18th. They issued a “hold” rating for the company. TheStreet raised Forestar Group from a “c+” rating to a “b-” rating in a report on Monday, April 17th. Finally, Citigroup increased their target price on Forestar Group from $21.00 to $22.00 in a research report on Friday, April 21st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.17.

Forestar Group Trading Up 0.3 %

The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $983.53 million, a price-to-earnings ratio of 7.09 and a beta of 1.63. The firm has a 50-day moving average price of $17.31 and a 200-day moving average price of $15.71.

Insider Buying and Selling

In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of Forestar Group stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $20.12, for a total transaction of $40,240.00. Following the transaction, the director now owns 7,267 shares in the company, valued at $146,212.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company’s stock.

Institutional Trading of Forestar Group

A number of institutional investors and hedge funds have recently made changes to their positions in FOR. New York State Teachers Retirement System bought a new position in Forestar Group during the fourth quarter valued at about $25,000. U.S. Capital Wealth Advisors LLC bought a new position in Forestar Group during the 4th quarter worth about $33,000. First Manhattan Co. bought a new position in shares of Forestar Group in the 3rd quarter valued at about $27,000. Federated Hermes Inc. acquired a new stake in Forestar Group in the 3rd quarter valued at about $29,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Forestar Group by 1,065.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,634 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 2,408 shares during the last quarter. Institutional investors and hedge funds own 35.02% of the company’s stock.

Forestar Group Company Profile

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Forestar Group Inc is a residential lot development company, which engages in the provision of real estate business. The firm focuses on making investments in land acquisition and development to sell finished single-family residential lots to homebuilders. The company was founded in 2007 and is headquartered in Arlington, TX.