Forestar Group (NYSE:FOR) Reaches New 12-Month Low – Time to Sell?

Forestar Group Inc. (NYSE:FOR) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $24.05 and last traded at $24.05, with a volume of 562 shares trading hands. The stock had previously closed at $25.10.

Wall Street Analyst Weigh In

Separately, Citigroup lowered their price objective on Forestar Group from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

Forestar Group Stock Up 1.0 %

The business has a 50-day simple moving average of $28.21 and a two-hundred day simple moving average of $30.25. The stock has a market capitalization of $1.28 billion, a P/E ratio of 6.32 and a beta of 1.74. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Forestar Group (NYSE:FOR) last announced 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 analysts’ expectations of $503.76 million. During the same period in the prior year, the business posted $1.44 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. Equities research analysts forecast that Forestar Group Inc. will post 3.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forestar Group

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Forestar Group by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock valued at $78,012,000 after acquiring an additional 201,032 shares during the period. Principal Financial Group Inc. lifted its stake in 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 buying an additional 43,369 shares during the period. Barclays PLC lifted its stake in Forestar Group by 20.3% in the third quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company’s stock valued at $1,865,000 after buying an additional 9,733 shares during the period. Los Angeles Capital Management LLC lifted its stake in Forestar Group by 73.5% in the third quarter. Los Angeles Capital Management LLC now owns 62,237 shares of the oil and gas exploration company’s stock valued at $2,015,000 after buying an additional 26,360 shares during the period. Finally, State Street Corp lifted its stake in Forestar Group by 0.9% in the third 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 period. Institutional investors and hedge funds own 35.50% of the company’s stock.

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.