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

Forestar Group Inc. (NYSE:FOR) shares hit a new 52-week low during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $37.00 to $30.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Forestar Group traded as low as $23.32 and last traded at $23.61, with a volume of 80826 shares traded. The stock had previously closed at $24.00.

Several other equities analysts also recently weighed in on FOR. StockNews.com downgraded Forestar Group from a “hold” rating to a “sell” rating in a research report on Monday. Citigroup lowered their target price on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd.

Institutional Trading of Forestar Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOR. Point72 DIFC Ltd purchased a new stake in shares of Forestar Group during the third quarter valued at approximately $32,000. nVerses Capital LLC raised its position in shares of Forestar Group by 500.0% in the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 1,000 shares during the period. R Squared Ltd purchased a new stake in shares of Forestar Group during the fourth quarter worth $95,000. Heck Capital Advisors LLC purchased a new position in Forestar Group during the 4th quarter valued at about $112,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Forestar Group during the 3rd quarter worth approximately $172,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Stock Down 0.2 %

The company has a quick ratio of 1.61, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.21 billion, a PE ratio of 6.71 and a beta of 1.74. The stock has a 50-day moving average of $26.85 and a 200-day moving average of $29.69.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 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 during the quarter, compared to analysts’ expectations of $318.00 million. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. Sell-side analysts predict that Forestar Group Inc. will post 3.67 earnings per share 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.