Forestar Group (NYSE:FOR) Sees Strong Trading Volume

Forestar Group Inc. (NYSE:FOR) shares saw unusually-strong trading volume on Thursday . Approximately 101,232 shares changed hands during mid-day trading, a decline of 53% from the previous session’s volume of 215,066 shares.The stock last traded at $32.45 and had previously closed at $34.16.

Analysts Set New Price Targets

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

Forestar Group Stock Performance

The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 8.61 and a beta of 1.71. The company’s 50 day simple moving average is $35.75 and its 200 day simple moving average is $32.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.01 and a current ratio of 2.01.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FOR. Swiss National Bank lifted its holdings in shares of Forestar Group by 7.6% during the first quarter. Swiss National Bank now owns 41,017 shares of the oil and gas exploration company’s stock valued at $728,000 after purchasing an additional 2,900 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Forestar Group by 67.3% in the first quarter. JPMorgan Chase & Co. now owns 78,489 shares of the oil and gas exploration company’s stock worth $1,395,000 after buying an additional 31,567 shares during the period. Bank of New York Mellon Corp increased its position in shares of Forestar Group by 5.7% in the first quarter. Bank of New York Mellon Corp now owns 104,101 shares of the oil and gas exploration company’s stock worth $1,849,000 after acquiring an additional 5,604 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Forestar Group by 55.1% during the first quarter. American Century Companies Inc. now owns 45,703 shares of the oil and gas exploration company’s stock valued at $812,000 after acquiring an additional 16,240 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in shares of Forestar Group by 56.8% during the first quarter. MetLife Investment Management LLC now owns 10,949 shares of the oil and gas exploration company’s stock valued at $194,000 after acquiring an additional 3,966 shares during the period. 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.