Forestar Group (NYSE:FOR) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Forestar Group (NYSE:FOR) from a hold rating to a sell rating in a research note published on Monday morning.

Separately, Citigroup lowered their target price on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd.

Forestar Group Price Performance

Shares of NYSE FOR opened at $24.04 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 1.61. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 6.73 and a beta of 1.74. The stock’s 50-day moving average is $27.05 and its two-hundred day moving average is $29.80. Forestar Group has a 1-year low of $23.38 and a 1-year high of $40.92.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $318,000 billion. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The business’s revenue was down 18.1% compared to the same quarter last year. Analysts forecast that Forestar Group will post 3.67 EPS for the current fiscal year.

Institutional Trading of Forestar Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOR. Woodson Capital Management LP grew its stake 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. State Street Corp grew its position in Forestar Group by 0.9% in the 3rd quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company’s stock valued at $13,838,000 after buying an additional 3,922 shares during the last quarter. Principal Financial Group Inc. grew its position in Forestar Group by 13.7% in the 3rd 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 buying an additional 43,369 shares during the last quarter. Empowered Funds LLC increased its stake in Forestar Group by 3.8% in the 3rd quarter. Empowered Funds LLC now owns 317,989 shares of the oil and gas exploration company’s stock valued at $10,293,000 after buying an additional 11,780 shares during the period. Finally, Hennessy Advisors Inc. raised its position in Forestar Group by 6.9% during the 4th quarter. Hennessy Advisors Inc. now owns 254,000 shares of the oil and gas exploration company’s stock worth $6,584,000 after buying an additional 16,300 shares during the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

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.