Forestar Group Inc. (NYSE:FOR – Get Free Report)’s share price dropped 4.2% during trading on Tuesday . The company traded as low as $29.92 and last traded at $30.11. Approximately 78,425 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 208,513 shares. The stock had previously closed at $31.42.
Analyst Upgrades and Downgrades
FOR has been the subject of a number of research analyst reports. Citigroup decreased their target price on Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com lowered Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, April 26th.
Forestar Group Trading Down 4.7 %
The company has a market capitalization of $1.51 billion, a P/E ratio of 7.46 and a beta of 1.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a fifty day moving average price of $32.76 and a 200-day moving average price of $33.88.
Forestar Group (NYSE:FOR – Get Free Report) last released its earnings results on Thursday, April 18th. The oil and gas exploration company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. The company had revenue of $333.80 million during the quarter, compared to analyst estimates of $345.60 million. Forestar Group had a return on equity of 14.59% and a net margin of 12.99%. On average, equities research analysts anticipate that Forestar Group Inc. will post 3.87 earnings per share for the current year.
Insider Activity
In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $31.38, for a total value of $62,760.00. Following the transaction, the director now owns 7,951 shares in the company, valued at $249,502.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $31.38, for a total value of $62,760.00. Following the transaction, the director now owns 7,951 shares in the company, valued at $249,502.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anthony W. Oxley acquired 3,210 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was purchased at an average price of $31.15 per share, for a total transaction of $99,991.50. Following the purchase, the chief executive officer now owns 3,210 shares of the company’s stock, valued at approximately $99,991.50. The disclosure for this purchase can be found here. 0.49% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Forestar Group
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Forestar Group by 1.0% during the first quarter. Vanguard Group Inc. now owns 2,805,957 shares of the oil and gas exploration company’s stock worth $112,771,000 after acquiring an additional 28,379 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Forestar Group by 11.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,026,590 shares of the oil and gas exploration company’s stock worth $67,021,000 after acquiring an additional 200,686 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Forestar Group by 11.0% during the first quarter. Bridgeway Capital Management LLC now owns 439,892 shares of the oil and gas exploration company’s stock worth $17,679,000 after acquiring an additional 43,457 shares in the last quarter. Woodson Capital Management LP purchased a new stake in shares of Forestar Group during the first quarter worth $13,367,000. Finally, Empowered Funds LLC lifted its position in shares of Forestar Group by 55.5% during the first quarter. Empowered Funds LLC now owns 290,197 shares of the oil and gas exploration company’s stock worth $11,663,000 after acquiring an additional 103,562 shares in 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.