StockNews.com Lowers Forestar Group (NYSE:FOR) to Hold

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

Forestar Group Price Performance

Shares of NYSE:FOR opened at $36.16 on Friday. The business’s 50 day simple moving average is $35.72 and its 200-day simple moving average is $32.15. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 9.85 and a beta of 1.71. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 2.01. Forestar Group has a 12 month low of $15.07 and a 12 month high of $40.92.

Forestar Group (NYSE:FOR) last announced its quarterly earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 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 business had revenue of $305.90 million for the quarter, compared to analyst estimates of $273.00 million. During the same quarter in the previous year, the company earned $0.42 EPS. As a group, equities analysts forecast that Forestar Group will post 3.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forestar Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. raised its holdings in Forestar Group by 1,601.6% in the 3rd quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock valued at $28,000 after acquiring an additional 977 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Forestar Group in the 3rd quarter valued at $32,000. McGlone Suttner Wealth Management Inc. acquired a new position in Forestar Group in the 4th quarter valued at $35,000. Envestnet Asset Management Inc. acquired a new position in Forestar Group in the 1st quarter valued at $35,000. Finally, Barclays PLC raised its holdings in Forestar Group by 533.7% in the 4th quarter. Barclays PLC now owns 4,892 shares of the oil and gas exploration company’s stock valued at $75,000 after acquiring an additional 4,120 shares during the last quarter. 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.