Forestar Group (NYSE:FOR) Upgraded at StockNews.com

StockNews.com upgraded shares of Forestar Group (NYSE:FOR) from a sell rating to a hold rating in a research note released on Wednesday.

FOR has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their target price on Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Citigroup reduced their target price on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd.

Forestar Group Stock Performance

NYSE:FOR opened at $22.00 on Wednesday. The stock’s fifty day moving average is $24.53 and its 200 day moving average is $28.50. Forestar Group has a fifty-two week low of $21.96 and a fifty-two week high of $40.92. The firm has a market capitalization of $1.11 billion, a PE ratio of 6.16 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.

Forestar Group (NYSE:FOR) last released its quarterly 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). Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The company had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $318.00 million. The business’s revenue was down 18.1% on a year-over-year basis. On average, sell-side analysts anticipate that Forestar Group will post 3.44 earnings per share for the current year.

Insider Transactions at Forestar Group

In other news, CEO Anthony W. Oxley purchased 4,300 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of $23.14 per share, with a total value of $99,502.00. Following the transaction, the chief executive officer now owns 4,300 shares of the company’s stock, valued at $99,502. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Forestar Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Total Wealth Planning & Management Inc. bought a new position in shares of Forestar Group during the 4th quarter worth $297,000. Heck Capital Advisors LLC bought a new stake in Forestar Group during the fourth quarter valued at about $112,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Forestar Group by 25.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,455 shares of the oil and gas exploration company’s stock valued at $1,282,000 after purchasing an additional 10,049 shares in the last quarter. Two Sigma Advisers LP boosted its position in Forestar Group by 16.1% during the fourth quarter. Two Sigma Advisers LP now owns 104,781 shares of the oil and gas exploration company’s stock valued at $2,716,000 after purchasing an additional 14,500 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Forestar Group by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,905 shares of the oil and gas exploration company’s stock valued at $283,000 after purchasing an additional 456 shares in the last quarter. Institutional investors own 35.50% of the company’s stock.

Forestar Group Company Profile

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.