Forestar Group (NYSE:FOR) Stock Price Down 3.6% – Time to Sell?

Shares of Forestar Group Inc (NYSE:FOR) dropped 3.6% during mid-day trading on Friday . The company traded as low as $25.87 and last traded at $25.8450. Approximately 28,867 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 174,189 shares. The stock had previously closed at $26.82.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Forestar Group from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. Citizens Jmp upped their target price on shares of Forestar Group from $30.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 29th. Citigroup lifted their price target on Forestar Group from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price objective on Forestar Group from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen upgraded Forestar Group from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Forestar Group Stock Down 6.1%

The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.45. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 7.66 and a beta of 1.41. The stock’s 50 day moving average is $25.52 and its 200 day moving average is $24.78.

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.53. The firm had revenue of $670.50 million during the quarter, compared to the consensus estimate of $556.59 million. Forestar Group had a return on equity of 10.08% and a net margin of 10.11%.The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 earnings per share. Analysts forecast that Forestar Group Inc will post 3.44 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its position in Forestar Group by 1,206.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 917 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Forestar Group in the 3rd quarter worth approximately $517,000. Dark Forest Capital Management LP raised its holdings in shares of Forestar Group by 38.9% in the 3rd quarter. Dark Forest Capital Management LP now owns 49,684 shares of the oil and gas exploration company’s stock worth $1,321,000 after purchasing an additional 13,911 shares in the last quarter. Sandler Capital Management acquired a new stake in Forestar Group during the third quarter valued at approximately $1,323,000. Finally, Mariner LLC lifted its stake in Forestar Group by 16.2% during the third quarter. Mariner LLC now owns 19,491 shares of the oil and gas exploration company’s stock valued at $518,000 after purchasing an additional 2,718 shares during the last quarter. 35.50% of the stock is owned by institutional investors and hedge funds.

Forestar Group Company Profile

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.