Forestar Group (NYSE:FOR) Reaches New 1-Year Low - Here's Why

Forestar Group Inc. (NYSE:FOR - Get Free Report)'s stock price reached a new 52-week low on Monday . The stock traded as low as $24.05 and last traded at $24.05, with a volume of 562 shares trading hands. The stock had previously closed at $25.10.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut their price target on shares of Forestar Group from $43.00 to $39.00 and set a "buy" rating for the company in a report on Monday, January 6th.

Forestar Group Stock Up 2.5 %

The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 6.42 and a beta of 1.74. The business has a 50-day moving average of $28.21 and a 200-day moving average of $30.24. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.61 and a current ratio of 1.61.

Forestar Group (NYSE:FOR - Get Free Report) last announced its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.29. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The company had revenue of $551.40 million during the quarter, compared to analyst estimates of $503.76 million. During the same quarter last year, the firm posted $1.44 earnings per share. Forestar Group's revenue was up .3% compared to the same quarter last year. On average, sell-side analysts expect that Forestar Group Inc. will post 3.67 EPS for the current year.

Hedge Funds Weigh In On Forestar Group

A number of hedge funds and other institutional investors have recently bought and sold shares of FOR. CWA Asset Management Group LLC boosted its position in Forestar Group by 24.2% in the 4th quarter. CWA Asset Management Group LLC now owns 19,374 shares of the oil and gas exploration company's stock valued at $502,000 after buying an additional 3,778 shares during the period. Principal Financial Group Inc. boosted its holdings in Forestar Group by 13.7% in the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company's stock valued at $11,668,000 after purchasing an additional 43,369 shares during the period. Franklin Resources Inc. grew its stake in Forestar Group by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 55,068 shares of the oil and gas exploration company's stock worth $1,748,000 after purchasing an additional 1,218 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Forestar Group during the 3rd quarter worth about $233,000. Finally, Arete Wealth Advisors LLC acquired a new stake in Forestar Group in the 3rd quarter valued at about $227,000. 35.50% of the stock is currently owned by hedge funds and other 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.