Forestar Group (NYSE:FOR) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Forestar Group (NYSE:FOR) from a buy rating to a hold rating in a research note published on Saturday.

Forestar Group Price Performance

FOR stock opened at $37.58 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. Forestar Group has a 52-week low of $15.07 and a 52-week high of $40.92. The stock’s 50 day moving average is $35.48 and its two-hundred day moving average is $31.98. The company has a market capitalization of $1.88 billion, a PE ratio of 10.24 and a beta of 1.71.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.20. Forestar Group had a return on equity of 13.85% and a net margin of 12.08%. The company had revenue of $305.90 million for the quarter, compared to the consensus estimate of $273.00 million. During the same period in the previous year, the business earned $0.42 EPS. Analysts predict that Forestar Group will post 3.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forestar Group

Institutional investors have recently made changes to their positions in the company. Denali Advisors LLC increased its holdings in shares of Forestar Group by 81.1% in the 4th quarter. Denali Advisors LLC now owns 81,728 shares of the oil and gas exploration company’s stock valued at $2,703,000 after acquiring an additional 36,600 shares during the last quarter. Numerai GP LLC increased its holdings in shares of Forestar Group by 443.0% in the 3rd quarter. Numerai GP LLC now owns 74,729 shares of the oil and gas exploration company’s stock valued at $2,013,000 after acquiring an additional 60,968 shares during the last quarter. Jump Financial LLC increased its holdings in shares of Forestar Group by 221.9% in the 3rd quarter. Jump Financial LLC now owns 28,646 shares of the oil and gas exploration company’s stock valued at $772,000 after acquiring an additional 19,746 shares during the last quarter. Capula Management Ltd bought a new stake in shares of Forestar Group in the 3rd quarter valued at approximately $1,066,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Forestar Group by 45.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,858 shares of the oil and gas exploration company’s stock valued at $616,000 after acquiring an additional 7,133 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors.

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.