Forestar Group (NYSE:FOR) Hits New 12-Month Low on Analyst Downgrade

Shares of Forestar Group Inc. (NYSE:FOR - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $43.00 to $39.00. Citigroup currently has a buy rating on the stock. Forestar Group traded as low as $25.20 and last traded at $25.20, with a volume of 517 shares. The stock had previously closed at $25.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. First Eagle Investment Management LLC acquired a new position in shares of Forestar Group in the 2nd quarter valued at $6,592,000. Dimensional Fund Advisors LP boosted its holdings in shares of Forestar Group by 9.0% in 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 during the last quarter. American Century Companies Inc. boosted its holdings in shares of Forestar Group by 22.5% in the 2nd quarter. American Century Companies Inc. now owns 461,388 shares of the oil and gas exploration company's stock valued at $14,760,000 after purchasing an additional 84,861 shares during the last quarter. Woodson Capital Management LP boosted its holdings in shares of Forestar Group by 12.0% in the 3rd 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 purchasing an additional 60,000 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its holdings in shares of Forestar Group by 27.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 216,354 shares of the oil and gas exploration company's stock valued at $7,003,000 after purchasing an additional 46,250 shares during the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

Forestar Group Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 6.48 and a beta of 1.74. The stock's fifty day simple moving average is $28.70 and its two-hundred day simple moving average is $30.41.

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

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.