Forestar Group (NYSE:FOR) Hits New 52-Week Low on Analyst Downgrade

Shares of Forestar Group Inc. (NYSE:FOR) 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 changing hands. The stock had previously closed at $25.50.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. CWA Asset Management Group LLC increased its stake in Forestar Group by 24.2% in the 4th quarter. CWA Asset Management Group LLC now owns 19,374 shares of the oil and gas exploration company’s stock valued at $502,000 after buying an additional 3,778 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Forestar Group by 13.7% in the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock valued at $11,668,000 after acquiring an additional 43,369 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Forestar Group by 2.3% during the third quarter. Franklin Resources Inc. now owns 55,068 shares of the oil and gas exploration company’s stock worth $1,748,000 after acquiring an additional 1,218 shares during the period. Sanctuary Advisors LLC purchased a new position in Forestar Group during the third quarter worth about $233,000. Finally, Arete Wealth Advisors LLC acquired a new stake in Forestar Group in the third quarter valued at about $227,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Price Performance

The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $28.58 and a two-hundred day simple moving average of $30.37. The company has a market cap of $1.32 billion, a PE ratio of 6.48 and a beta of 1.74.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $503.76 million. During the same period in the previous year, the business earned $1.44 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities analysts predict that Forestar Group Inc. will post 3.67 EPS for the current fiscal year.

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.