Forestar Group Inc. (NYSE:FOR) Director Sells $23,213.82 in Stock

Forestar Group Inc. (NYSE:FOR) Director Elizabeth Parmer sold 798 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $29.09, for a total transaction of $23,213.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Elizabeth Parmer also recently made the following trade(s):

• On Monday, July 29th, Elizabeth Parmer sold 750 shares of Forestar Group stock. The shares were sold at an average price of $32.05, for a total transaction of $24,037.50.
• On Tuesday, July 23rd, Elizabeth Parmer sold 1,547 shares of Forestar Group stock. The shares were sold at an average price of $32.24, for a total transaction of $49,875.28.

Forestar Group Stock Up 0.6 %

Shares of NYSE:FOR traded up $0.18 during trading on Friday, hitting $28.79. 193,374 shares of the company were exchanged, compared to its average volume of 214,280. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average price of $31.62 and a two-hundred day moving average price of $33.39. Forestar Group Inc. has a fifty-two week low of $22.71 and a fifty-two week high of $40.92. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 7.16 and a beta of 1.77.

Forestar Group (NYSE:FOR) last announced its earnings results on Thursday, July 18th. The oil and gas exploration company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.13). Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. The firm had revenue of $318.40 million for the quarter, compared to the consensus estimate of $370.50 million. As a group, research analysts anticipate that Forestar Group Inc. will post 3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forestar Group

Several hedge funds and other institutional investors have recently modified their holdings of FOR. Inspire Investing LLC bought a new stake in Forestar Group during the 1st quarter worth $941,000. Allspring Global Investments Holdings LLC raised its stake in Forestar Group by 918.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 45,195 shares of the oil and gas exploration company’s stock worth $1,816,000 after buying an additional 40,759 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Forestar Group during the 4th quarter valued at about $786,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Forestar Group during the 4th quarter worth approximately $1,115,000. Finally, Federated Hermes Inc. raised its holdings in shares of Forestar Group by 2,614.5% during the fourth quarter. Federated Hermes Inc. now owns 28,176 shares of the oil and gas exploration company’s stock valued at $932,000 after purchasing an additional 27,138 shares during the period. Institutional investors own 35.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on FOR. JPMorgan Chase & Co. cut their price target on Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. BTIG Research cut their target price on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, July 19th. StockNews.com lowered shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Finally, Citigroup lowered their target price on Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd.

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.