Forestar Group Inc. (NYSE:FOR – Get Rating) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 202,700 shares, an increase of 17.2% from the March 31st total of 173,000 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 94,700 shares, the short-interest ratio is presently 2.1 days.
Several brokerages have commented on FOR. StockNews.com raised Forestar Group from a “hold” rating to a “buy” rating in a report on Monday, April 25th. Citigroup cut their price objective on Forestar Group from $30.00 to $25.00 in a research note on Thursday, April 28th. Zacks Investment Research upgraded Forestar Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, April 26th. Finally, BTIG Research restated a “buy” rating and set a $24.00 price target on shares of Forestar Group in a report on Friday, April 22nd.
Shares of Forestar Group stock opened at $15.88 on Friday. The business has a 50-day moving average price of $17.17 and a two-hundred day moving average price of $19.16. Forestar Group has a 1-year low of $15.59 and a 1-year high of $25.45. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The company has a market cap of $789.84 million, a P/E ratio of 5.33 and a beta of 1.84.
Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Forestar Group by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 829,611 shares of the oil and gas exploration company’s stock valued at $18,044,000 after acquiring an additional 27,683 shares in the last quarter. Heartland Advisors Inc. boosted its position in shares of Forestar Group by 14.4% during the fourth quarter. Heartland Advisors Inc. now owns 411,800 shares of the oil and gas exploration company’s stock valued at $8,957,000 after buying an additional 51,800 shares during the last quarter. Geode Capital Management LLC grew its holdings in Forestar Group by 6.3% during the third quarter. Geode Capital Management LLC now owns 397,885 shares of the oil and gas exploration company’s stock worth $7,412,000 after buying an additional 23,639 shares in the last quarter. State Street Corp raised its position in Forestar Group by 2.1% in the 4th quarter. State Street Corp now owns 324,424 shares of the oil and gas exploration company’s stock valued at $7,056,000 after buying an additional 6,555 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Forestar Group by 7.4% during the 3rd quarter. Morgan Stanley now owns 294,366 shares of the oil and gas exploration company’s stock valued at $5,483,000 after acquiring an additional 20,381 shares in the last quarter. Hedge funds and other institutional investors own 31.96% of the company’s stock.
About Forestar Group (Get Rating)
Forestar Group Inc operates as a residential lot development company in the United States. The acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to homebuilders. The company is headquartered in Arlington, Texas. Forestar Group Inc is a subsidiary of D.R.
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