Forestar Group (NYSE:FOR) Reaches New 1-Year Low on Disappointing Earnings

Forestar Group Inc. (NYSE:FOR - Get Free Report) shares hit a new 52-week low on Thursday following a weaker than expected earnings announcement. The stock traded as low as $18.00 and last traded at $18.31, with a volume of 36928 shares changing hands. The stock had previously closed at $19.04.

The oil and gas exploration company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.07). The business had revenue of $351.00 million during the quarter, compared to the consensus estimate of $379.60 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%.

Wall Street Analyst Weigh In

FOR has been the subject of several analyst reports. Citigroup decreased their price objective 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. JPMorgan Chase & Co. cut their price objective on Forestar Group from $37.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. StockNews.com raised shares of Forestar Group from a "sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Finally, BTIG Research lowered their price objective on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a research report on Monday.

Insider Activity

In other Forestar Group news, CEO Anthony W. Oxley acquired 4,300 shares of the company's stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $23.14 per share, for a total transaction of $99,502.00. Following the completion of the purchase, the chief executive officer now owns 4,300 shares in the company, valued at approximately $99,502. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.40% of the company's stock.

Institutional Trading of Forestar Group

Hedge funds have recently bought and sold shares of the stock. CWA Asset Management Group LLC raised its position in shares of Forestar Group by 35.8% in the 1st quarter. CWA Asset Management Group LLC now owns 26,315 shares of the oil and gas exploration company's stock worth $556,000 after acquiring an additional 6,941 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Forestar Group by 263,300.0% during the first quarter. GAMMA Investing LLC now owns 13,170 shares of the oil and gas exploration company's stock valued at $278,000 after buying an additional 13,165 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new stake in shares of Forestar Group in the 4th quarter valued at about $297,000. Heck Capital Advisors LLC purchased a new position in shares of Forestar Group in the 4th quarter worth approximately $112,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Forestar Group by 25.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,455 shares of the oil and gas exploration company's stock worth $1,282,000 after acquiring an additional 10,049 shares in the last quarter. Hedge funds and other institutional investors own 35.50% of the company's stock.

Forestar Group Price Performance

The company has a market cap of $956.34 million, a PE ratio of 5.28 and a beta of 1.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. The stock's 50-day moving average is $21.40 and its 200 day moving average is $25.72.

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.