Forestar Group (NYSE:FOR) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Forestar Group (NYSE:FOR) from a hold rating to a sell rating in a research report report published on Tuesday.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Citigroup lowered their target price on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, January 23rd.

Forestar Group Stock Up 1.7 %

Shares of NYSE FOR opened at $23.64 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $25.22 and its 200 day simple moving average is $28.83. Forestar Group has a 12-month low of $22.42 and a 12-month high of $40.92. The firm has a market cap of $1.20 billion, a PE ratio of 6.62 and a beta of 1.72.

Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.33). The firm had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $318.00 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Forestar Group will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Anthony W. Oxley acquired 4,300 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the completion of the acquisition, the chief executive officer now owns 4,300 shares of the company’s stock, valued at approximately $99,502. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Forestar Group

A number of large investors have recently added to or reduced their stakes in FOR. Point72 DIFC Ltd bought a new position in Forestar Group during the third quarter worth about $32,000. Lazard Asset Management LLC bought a new position in Forestar Group during the fourth quarter worth about $38,000. nVerses Capital LLC boosted 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 purchasing an additional 1,000 shares during the period. NewEdge Advisors LLC bought a new position in Forestar Group during the fourth quarter worth about $76,000. Finally, R Squared Ltd bought a new position in Forestar Group during the fourth quarter worth about $95,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

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.