Forestar Group Inc. (NYSE:FOR) Short Interest Up 17.2% in April

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.

Forestar Group (NYSE:FOR – Get Rating) last announced its earnings results on Thursday, April 21st. The oil and gas exploration company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.73 by $0.29. Forestar Group had a return on equity of 15.65% and a net margin of 9.49%. During the same quarter last year, the business posted $0.59 EPS. Equities research analysts forecast that Forestar Group will post 3.7 EPS for the current fiscal year.

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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