Forestar Group (NYSE:FOR) Stock Price Down 4.9%

Forestar Group Inc. (NYSE:FOR) shares were down 4.9% during mid-day trading on Wednesday . The company traded as low as $34.33 and last traded at $34.38. Approximately 255,032 shares changed hands during trading, an increase of 19% from the average daily volume of 213,882 shares. The stock had previously closed at $36.14.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Forestar Group from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th.

Forestar Group Stock Up 1.0 %

The business has a 50-day simple moving average of $35.77 and a two-hundred day simple moving average of $32.16. The stock has a market capitalization of $1.58 billion, a P/E ratio of 8.62 and a beta of 1.71. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.50.

Forestar Group (NYSE:FOR) last announced its quarterly earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.20. Forestar Group had a return on equity of 13.85% and a net margin of 12.08%. The firm had revenue of $305.90 million for the quarter, compared to analysts’ expectations of $273.00 million. During the same period in the prior year, the business posted $0.42 earnings per share. Equities research analysts forecast that Forestar Group Inc. will post 3.93 earnings per share for the current fiscal year.

Institutional Trading of Forestar Group

Several large investors have recently made changes to their positions in FOR. Federated Hermes Inc. grew its holdings in shares of Forestar Group by 1,601.6% during the third quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock worth $28,000 after purchasing an additional 977 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Forestar Group during the third quarter valued at $32,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Forestar Group during the fourth quarter valued at $35,000. Envestnet Asset Management Inc. acquired a new position in shares of Forestar Group during the first quarter valued at $35,000. Finally, Barclays PLC lifted its stake in shares of Forestar Group by 533.7% during the fourth quarter. Barclays PLC now owns 4,892 shares of the oil and gas exploration company’s stock valued at $75,000 after acquiring an additional 4,120 shares during the period. 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.