Forestar Group (NYSE:FOR) Cut to Sell at StockNews.com

StockNews.com lowered shares of Forestar Group (NYSE:FOR) from a hold rating to a sell rating in a research note published on Monday morning.

Separately, Citigroup dropped their price target 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 Down 0.2 %

NYSE FOR opened at $23.96 on Monday. The business has a fifty day moving average price of $26.85 and a two-hundred day moving average price of $29.69. The stock has a market capitalization of $1.21 billion, a PE ratio of 6.71 and a beta of 1.74. Forestar Group has a fifty-two week low of $23.32 and a fifty-two week high of $40.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 1.61.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). The company had revenue of $250.40 million for the quarter, compared to the consensus estimate 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 was down 18.1% compared to the same quarter last year. Equities analysts expect that Forestar Group will post 3.67 earnings per share for the current fiscal year.

Institutional Trading of Forestar Group

Several institutional investors and hedge funds have recently modified their holdings of FOR. Point72 DIFC Ltd purchased a new position in Forestar Group in the third quarter worth $32,000. nVerses Capital LLC raised its stake 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 acquiring an additional 1,000 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Forestar Group in the 4th quarter valued at $95,000. Heck Capital Advisors LLC bought a new position in shares of Forestar Group during the 4th quarter valued at $112,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Forestar Group in the 3rd quarter worth $172,000. 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.