Forestar Group (NYSE:FOR) Hits New 12-Month Low - Should You Sell?

Forestar Group Inc. (NYSE:FOR - Get Free Report) shares hit a new 52-week low on Thursday . The company traded as low as $22.38 and last traded at $22.47, with a volume of 77137 shares trading hands. The stock had previously closed at $22.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Forestar Group from $39.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. StockNews.com raised shares of Forestar Group from a "sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced 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.

Forestar Group Stock Down 2.1 %

The business's fifty day moving average price is $24.45 and its 200 day moving average price is $28.45. 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 firm has a market capitalization of $1.09 billion, a PE ratio of 6.05 and a beta of 1.72.

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

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Insider Buying and Selling

In other news, CEO Anthony W. Oxley purchased 4,300 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $23.14 per share, with a total value of $99,502.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,300 shares of the company's stock, valued at approximately $99,502. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in Forestar Group during the third quarter worth about $32,000. Lazard Asset Management LLC purchased a new position in Forestar Group during the fourth quarter worth about $38,000. NewEdge Advisors LLC purchased a new position in Forestar Group during the fourth quarter worth about $76,000. R Squared Ltd purchased a new position in Forestar Group during the fourth quarter worth about $95,000. Finally, Heck Capital Advisors LLC acquired a new position in Forestar Group during the fourth quarter worth about $112,000. 35.50% of the stock is 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.