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

Forestar Group Inc. (NYSE:FOR - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $26.00 and last traded at $26.11, with a volume of 190732 shares changing hands. The stock had previously closed at $26.99.

Forestar Group Trading Down 2.3 %

The company's fifty day simple moving average is $30.29 and its two-hundred day simple moving average is $31.00. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 6.36 and a beta of 1.72. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

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

Insider Activity

In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.58, for a total transaction of $65,160.00. Following the completion of the sale, the director now owns 5,951 shares of the company's stock, valued at $193,883.58. This represents a 25.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Forestar Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of Forestar Group by 111.6% in the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company's stock valued at $34,000 after purchasing an additional 559 shares in the last quarter. SG Americas Securities LLC bought a new stake in Forestar Group in the 2nd quarter valued at approximately $285,000. Family Firm Inc. acquired a new position in Forestar Group during the 2nd quarter worth approximately $34,000. Allspring Global Investments Holdings LLC grew its stake in shares of Forestar Group by 46.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 65,990 shares of the oil and gas exploration company's stock worth $2,111,000 after acquiring an additional 20,795 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its stake in shares of Forestar Group by 2.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 70,638 shares of the oil and gas exploration company's stock worth $2,260,000 after acquiring an additional 1,590 shares in the last quarter. 35.50% of the stock is owned by institutional investors and hedge funds.

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.