Forestar Group (NYSE:FOR) Hits New 1-Year Low – Should You Sell?

Forestar Group Inc. (NYSE:FOR)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $24.05 and last traded at $24.05, with a volume of 562 shares. The stock had previously closed at $25.10.

Analyst Upgrades and Downgrades

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

Forestar Group Trading Up 1.0 %

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

Forestar Group (NYSE:FOR) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.31 by $0.29. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The business had revenue of $551.40 million during the quarter, compared to analysts’ expectations of $503.76 million. During the same quarter in the previous year, the business posted $1.44 EPS. The firm’s quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts forecast that Forestar Group Inc. will post 3.67 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new position in shares of Forestar Group during the third quarter worth approximately $32,000. nVerses Capital LLC lifted its holdings in shares of Forestar Group by 500.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after buying an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Forestar Group by 474.8% during the second quarter. EverSource Wealth Advisors LLC now owns 5,311 shares of the oil and gas exploration company’s stock worth $168,000 after buying an additional 4,387 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Forestar Group during the third quarter worth approximately $172,000. Finally, Arete Wealth Advisors LLC bought a new stake in shares of Forestar Group during the third quarter valued at approximately $227,000. 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.