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

Forestar Group (NYSE:FOR) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

A number of other research firms have also issued reports on FOR. Citigroup dropped their target price on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th.

Forestar Group Stock Performance

Shares of NYSE FOR opened at $23.16 on Tuesday. The company has a market capitalization of $1.17 billion, a PE ratio of 6.49 and a beta of 1.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The company’s fifty day moving average price is $25.02 and its 200 day moving average price is $28.74. Forestar Group has a 1 year low of $22.42 and a 1 year high of $40.92.

Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.33). The business had revenue of $250.40 million for the quarter, compared to analyst estimates of $318.00 million. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. On average, research analysts predict that Forestar Group will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Anthony W. Oxley acquired 4,300 shares of the stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $23.14 per share, with a total value of $99,502.00. Following the completion of the transaction, the chief executive officer now owns 4,300 shares in the company, valued at $99,502. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Forestar Group by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company’s stock valued at $70,541,000 after buying an additional 119,357 shares in the last quarter. Janus Henderson Group PLC lifted its position in Forestar Group by 406.1% in the fourth quarter. Janus Henderson Group PLC now owns 125,408 shares of the oil and gas exploration company’s stock valued at $3,247,000 after acquiring an additional 100,629 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Forestar Group by 26.4% in the fourth quarter. First Eagle Investment Management LLC now owns 479,669 shares of the oil and gas exploration company’s stock valued at $12,433,000 after acquiring an additional 100,100 shares in the last quarter. Crestline Management LP acquired a new position in Forestar Group in the fourth quarter valued at $2,333,000. Finally, First Trust Advisors LP grew its holdings in shares of Forestar Group by 197.8% during the fourth quarter. First Trust Advisors LP now owns 128,989 shares of the oil and gas exploration company’s stock worth $3,343,000 after purchasing an additional 85,669 shares during the last quarter. Hedge funds and other institutional investors 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.