Forestar Group (NYSE:FOR) Lowered to Hold at StockNews.com

Forestar Group (NYSE:FOR) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Forestar Group Price Performance

Shares of FOR opened at $37.59 on Friday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 10.24 and a beta of 1.71. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $35.48 and its 200 day simple moving average is $31.94. Forestar Group has a 1-year low of $15.07 and a 1-year high of $40.92.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.20. Forestar Group had a net margin of 12.08% and a return on equity of 13.85%. The company had revenue of $305.90 million for the quarter, compared to analyst estimates of $273.00 million. During the same period in the previous year, the business earned $0.42 EPS. On average, research analysts forecast that Forestar Group will post 3.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forestar Group

Large investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC boosted its holdings in shares of Forestar Group by 82.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 65,867 shares of the oil and gas exploration company’s stock worth $2,647,000 after buying an additional 29,743 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Forestar Group during the fourth quarter worth approximately $786,000. Vanguard Group Inc. grew its position in shares of Forestar Group by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 2,777,578 shares of the oil and gas exploration company’s stock valued at $91,855,000 after purchasing an additional 15,729 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Forestar Group by 37.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 323,461 shares of the oil and gas exploration company’s stock valued at $10,697,000 after purchasing an additional 88,888 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Forestar Group during the fourth quarter worth approximately $147,000. 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.