Forestar Group (NYSE:FOR) Hits New 52-Week Low – What’s Next?

Forestar Group Inc. (NYSE:FOR)’s share price reached a new 52-week low on Friday . The stock traded as low as $27.43 and last traded at $27.57, with a volume of 37049 shares changing hands. The stock had previously closed at $28.36.

Forestar Group Price Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.61. The company’s 50-day moving average price is $30.57 and its 200-day moving average price is $31.14. The company has a market cap of $1.41 billion, a P/E ratio of 6.94 and a beta of 1.72.

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $503.76 million. During the same quarter in the prior year, the company earned $1.44 EPS. The company’s revenue was up .3% on a year-over-year basis. As a group, sell-side analysts predict that Forestar Group Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of Forestar Group stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.58, for a total value of $65,160.00. Following the sale, the director now directly owns 5,951 shares in the company, valued at approximately $193,883.58. The trade was a 25.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Forestar Group

A number of large investors have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in shares of Forestar Group in the 3rd quarter valued at approximately $32,000. CWM LLC increased its holdings in Forestar Group by 111.6% during the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 559 shares during the last quarter. Family Firm Inc. bought a new stake in Forestar Group during the second quarter worth $34,000. nVerses Capital LLC lifted its stake in 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 acquiring an additional 1,000 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Forestar Group in the 2nd quarter valued at about $112,000. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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.