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

Forestar Group Inc. (NYSE:FOR - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $25.27 and last traded at $25.58, with a volume of 9815 shares trading hands. The stock had previously closed at $25.70.

Forestar Group Stock Down 0.4 %

The business's 50 day moving average is $29.27 and its 200 day moving average is $30.62. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company has a market cap of $1.30 billion, a P/E ratio of 6.38 and a beta of 1.72.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $551.40 million during the quarter, compared to analyst estimates of $503.76 million. During the same period in the previous year, the company posted $1.44 EPS. The business's revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts anticipate that Forestar Group Inc. will post 3.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forestar Group

Several institutional investors and hedge funds have recently bought and sold shares of FOR. Principal Financial Group Inc. increased its holdings in shares of Forestar Group by 2,409.9% during the second quarter. Principal Financial Group Inc. now owns 317,102 shares of the oil and gas exploration company's stock valued at $10,144,000 after acquiring an additional 304,468 shares in the last quarter. First Eagle Investment Management LLC purchased a new stake in Forestar Group during the 2nd quarter worth approximately $6,592,000. Dimensional Fund Advisors LP increased its stake in Forestar Group by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company's stock valued at $78,012,000 after purchasing an additional 201,032 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Forestar Group by 22.5% during the second quarter. American Century Companies Inc. now owns 461,388 shares of the oil and gas exploration company's stock worth $14,760,000 after buying an additional 84,861 shares during the period. Finally, Woodson Capital Management LP grew its holdings in shares of Forestar Group by 12.0% during the third quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company's stock valued at $18,127,000 after buying an additional 60,000 shares during the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

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.