Forestar Group (NYSE:FOR) Hits New 52-Week Low - Here's Why

Forestar Group Inc. (NYSE:FOR - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $20.56 and last traded at $20.67, with a volume of 330 shares traded. The stock had previously closed at $21.41.

Analysts Set New Price Targets

Several research firms have recently weighed in on FOR. JPMorgan Chase & Co. lowered their price objective on shares of Forestar Group from $37.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. Citigroup decreased 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 note on Thursday, January 23rd. Finally, StockNews.com raised shares of Forestar Group from a "sell" rating to a "hold" rating in a research report on Wednesday, February 26th.

Forestar Group Trading Down 2.3 %

The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 5.66 and a beta of 1.53. The firm's 50-day moving average is $22.36 and its 200-day moving average is $26.78. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50.

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

Remove Ads

Insider Buying and Selling

In other Forestar Group news, CEO Anthony W. Oxley bought 4,300 shares of the business's stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the purchase, the chief executive officer now directly owns 4,300 shares of the company's stock, valued at approximately $99,502. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Forestar Group by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company's stock valued at $70,541,000 after buying an additional 119,357 shares during the period. American Century Companies Inc. boosted its position in Forestar Group by 11.3% during the fourth quarter. American Century Companies Inc. now owns 584,222 shares of the oil and gas exploration company's stock worth $15,143,000 after purchasing an additional 59,427 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Forestar Group by 2.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 481,253 shares of the oil and gas exploration company's stock valued at $12,474,000 after buying an additional 12,473 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Forestar Group by 26.4% in the 4th quarter. First Eagle Investment Management LLC now owns 479,669 shares of the oil and gas exploration company's stock worth $12,433,000 after buying an additional 100,100 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Forestar Group by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 473,883 shares of the oil and gas exploration company's stock worth $12,286,000 after acquiring an additional 2,038 shares in the last quarter. Institutional investors own 35.50% of the company's stock.

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.